Himile Technology revamps governance, launches employee stock ownership plan

Shandong Himile Mechanical Science & Technology, at its board meeting on October 13, 2025, approved a significant overhaul of its corporate governance. Key changes include revising the company's articles of association and canceling the supervisory board, with its functions transferred to the board's audit committee. These amendments, subject to shareholder approval on October 30, 2025, reflect the company's commitment to modernizing its operational and oversight structures.

Concurrently, the company introduced the "2025 Employee Stock Ownership Plan" (ESOP), covering up to 2,100 core employees. The plan will acquire up to 1.4412m shares from the company's buyback-specific securities account at a price of CNY 30 per share, representing 0.1802% of the current share capital. The ESOP, with a 36-month duration and a 24-month lock-up period, aims to align employee and shareholder interests, fostering long-term stability and growth. The total cost for the plan's share-based payment is estimated at CNY 40.7571m, amortized over three years.

Further reinforcing its governance structure, Himile also updated several other internal policies. These include revisions to internal audit, investment, investor relations, information disclosure, and foreign exchange hedging management systems, ensuring a robust and compliant operational environment in line with current regulatory standards.