Wuxi Shangji Automation completes employee stock ownership plan transfer

Wuxi Shangji Automation Co., Ltd. has completed the non-trading transfer of shares for its 2025 Employee Stock Ownership Plan. The plan was approved through a series of board and shareholder meetings in September and October 2025, with revisions made to personnel, allocation, and accounting treatment. The initial grant involved 68 employees subscribing to 25,550,000 units, totaling CNY 25,550,000 in subscription funds, corresponding to 2,200,689 shares from the company's repurchased stock account.

On November 17, 2025, these shares were transferred to the "Wuxi Shangji Automation Co., Ltd. – 2025 Employee Stock Ownership Plan" securities account at a price of CNY 11.61 per share. As of the announcement date, the employee stock ownership plan account holds 2,200,689 shares, representing approximately 0.32% of the company's total share capital. The plan's term is up to 60 months, with shares unlocking in three tranches (40%, 30%, 30%) after 12, 24, and 36 months, contingent on performance assessments.

Concurrently, the first employee meeting for the 2025 plan was held on November 17, 2025. All 68 participants, representing 25,550,000 units, approved the establishment of a three-member Employee Stock Ownership Plan Management Committee, appointing Zhuang Kejie as director, alongside Ji Fuhua and Wang Yong as members. The committee is authorized to manage daily operations, exercise shareholder rights, and handle various aspects of the plan’s implementation.