Great Wall Motor shareholders greenlight 2025 employee stock ownership plan

Great Wall Motor Company Limited shareholders have approved the 2025 Employee Stock Ownership Plan (the "Plan") during the fifth extraordinary general meeting held on December 23, 2025, in Baoding, Hebei, China. The resolutions, including the Plan’s framework, management methodology, and related authorizations to the board of directors, were passed with overwhelming support, representing 70.08% of the total issued share capital.

The Plan, effective from the date of shareholder approval, involves a total capital of up to yuan 80m, sourced from the company's incentive fund and employee compensation. It outlines a 36-month duration and a 12-month lock-up period for the acquired A-shares, which will be sourced from either repurchased shares or open market purchases. The company’s performance targets for unlocking are set for 2026 and 2027, focusing on sales volume and net profit.

The shareholder meeting also approved the Long-Term Incentive Fund Management Measures and the Remuneration Management System, both effective from 2025. These initiatives aim to align employee interests with the company's long-term growth, enhance corporate governance, and retain key talent by linking compensation to company performance.