Shandong Himile unveils 2025 employee stock ownership plan, revises governance

Shandong Himile Mechanical Science & Technology Co., Ltd. has approved its 2025 Employee Stock Ownership Plan (draft), aiming to incentivize core employees by distributing up to 1.4412 million A-shares. These shares, representing 0.1802% of the company's total share capital, will be acquired from the company’s buyback special account at a price of 30 yuan per share. The plan has a 36-month duration, with a 24-month lock-up period for the acquired shares, and excludes directors, supervisors, and senior management personnel.

The plan's approval involved multiple board resolutions, including authorizing the board to handle related matters. Significant revisions to the company’s Articles of Association were also approved, including the removal of the supervisory board, with its functions transferred to the board's audit committee. Other governance documents also underwent amendments.

These proposals will be presented for shareholder approval at the Second Extraordinary General Meeting of 2025 on October 30. The company’s remuneration and assessment committee affirmed that the employee stock ownership plan aligns with legal requirements and company interests.