Haid Group: First employee stock plan lock-up expires

Guangdong Haid Group (SZSE:002311) announced the expiration of the first lock-up period for its 2024 employee stock ownership plan on April 30, 2025. This unlocks 33.577 million shares, representing approximately 0.2018% of the company's total share capital. The shares were acquired through the repurchase of company stock, transferred to a dedicated account. However, the company also disclosed that its 2024 performance targets were not met, meaning the unlocked shares will not be distributed. Instead, plan participants will receive an annualized 2% interest compensation on their invested capital, with the remaining funds reverting to the company. Management will determine the sale timing of the unlocked shares and is committed to following market regulations. The Board of Directors also retains the option to extend or terminate the plan based on relevant regulations.