Winall Hi-Tech Seed: Employee stock plan fails target

Winall Hi-Tech Seed (SZSE:300087) announced that its second employee stock ownership plan's second unlocking period's performance targets were not met, based on the 2024 annual results. The plan initially involved the company repurchasing 18,134,236 shares in 2019, later transferring portions to dedicated employee stock ownership accounts. Because the net profit attributable to shareholders amounted to CNY114 million, this fell short of the CNY275 million target. Consequently, the unachieved performance target adjusted the number of shares from 2,689,270 to 3,764,979, representing 0.40% of the company's total share capital. According to the plan's management guidelines, the corresponding batch of shares will be cancelled and recovered, with proceeds from the sale of these shares to be returned to employees, limited to their original investment and interest.