Kuangda Tech: Director resigns, employee director elected, equity plan update

Kuangda Technology Group [SZSE:002516] announced the resignation of non-independent director, Wang Guoxing, due to personal reasons, effective immediately. The board has elected Chen Zexin as an employee representative director to fill the vacancy. Chen Zexin's term will begin after shareholder approval of amendments to the company's articles of association and will last until the end of the sixth board term. Meanwhile, Kuangda Tech also announced that the first vesting period for its 2024 employee stock ownership plan will conclude on July 8, 2025. The plan's vesting conditions have been met, with the company achieving a 16.35% increase in revenue compared to 2023. All 36 participating employees met the performance criteria, unlocking 4,670,600 shares, representing 0.32% of the company's total equity. Following vesting, management will distribute proceeds or shares to employees, subject to regulatory guidelines.