Great Wall Motor unveils 2025 employee stock ownership plan

Great Wall Motor Company Limited has announced its 2025 Employee Stock Ownership Plan (ESOP), approved on December 3, 2025. The plan aims to improve corporate governance, promote sustainable development, and motivate core personnel by aligning their interests with the company's long-term value. The ESOP's capital, not exceeding 80 million yuan, will be sourced from the company's incentive fund and other legal employee compensation. Shares will be acquired from the company's repurchased A-shares and/or open market purchases. The plan includes a 12-month lock-up period, followed by two equal unlocking periods based on company performance and individual achievements, with targets set for 2026 and 2027.

The 2025 ESOP involves up to 50 participants, including three directors and senior management holding 15% of the total shares, with other core personnel holding 85%. All participants must sign employment contracts for the plan's duration. The company also canceled 74,766,284 shares from its 2021 Stock Option Incentive Plan due to unexercised options after their vesting periods ended, representing approximately 0.87% of the total share capital.

A Shareholders' Special General Meeting will be held on December 23, 2025, to approve the 2025 ESOP, its management regulations, and long-term incentive fund management methods. Shareholders will also vote on a new remuneration management system. The company confirms the new ESOP is in compliance with relevant laws and regulations and will not affect the company’s capital structure or market listing qualifications.