Gosuncn Technology to launch sixth employee stock ownership plan

Gosuncn Technology Group announced its sixth employee stock ownership plan (ESOP) on September 19, 2025, following board approval. The plan targets management and core technical personnel in the automotive electronics communication business.

It will involve up to 3,395,300 shares, representing 0.20% of the company's current total share capital of 1,737,782,275 shares. The shares will be acquired from the company's repurchased stock, with a maximum fundraising of RMB 10,253,806. The purchase price for the shares is set at RMB 3.02 per share.

The ESOP has a 36-month duration, with shares unlocking in two tranches: 50% after 12 months and 50% after 24 months from the final share transfer date. Unlocking is contingent on the company achieving specific performance targets for its subsidiary, Gosuncn IoT, including revenue of at least RMB 450 million in 2025 and RMB 600 million in 2026, or a cumulative RMB 1.05 billion over 2025-2026. Individual performance assessments will also be required for full vesting.

The board has been authorized by shareholders to manage all aspects of the plan. The total estimated cost of the plan is RMB 9,948,229, to be expensed from 2025 to 2027.