JA Solar Technology formalizes 2025 employee stock ownership plan

JA Solar Technology (SZSE:002459) announced the signing of a trust contract with Yunnan International Trust Co. for its 2025 employee stock ownership plan, as approved by various board and shareholder meetings in August and September 2025. This "equity-based structured collective fund trust plan" aims to manage and utilize trust assets professionally to achieve appreciation.

The trust contract specifies that the plan's assets, including JA Solar Technology’s stock (stock code 002459.SZ) and its equity income, will be managed by Yunnan International Trust Co. The plan also outlines investment restrictions, such as prohibiting the purchase or sale of company stock during specific blackout periods (e.g., 30 days prior to earnings announcements) and during the 12-month lock-up period following the transfer of shares to the employee stock ownership plan's securities account.

The plan differentiates between "priority" and "subordinate" trust units, with the latter bearing higher risk. Priority beneficiaries are eligible for returns based on a specified performance benchmark, while subordinate beneficiaries receive distributions only after priority beneficiaries' claims are satisfied. The entire plan will operate under a structured risk control framework, including pre-set warning and liquidation lines for risk monitoring to protect investor interests.