Changhong Technology unveils 2025 restricted stock incentive plan

Shenzhen Changhong Technology is implementing a 2025 restricted stock incentive plan, granting a total of 5.2m shares, representing 0.98% of the company's total share capital. The initial grant comprises 5m shares (0.94% of total share capital), with 200,000 shares (0.04%) reserved for future grants. Key management personnel, including Xu Yanping, Luo Hongzhi, and Liu Li, will each receive 500,000 restricted shares. The incentive price for both initial and reserved grants is CNY 6.83 per share. The plan includes performance targets for operating income and net profit over three vesting periods, along with individual performance assessments.

Concurrently, the company is restructuring its board by abolishing the supervisory board, transferring its functions to the audit committee, and adding an employee representative director. Mr. Luo Hongzhi, who resigned as a non-independent director, has been elected as the employee representative director. These changes necessitated revisions to the company's Articles of Association and various governance policies, which will be submitted for shareholder approval. The incentive plan aims to enhance employee motivation and ensure sustainable growth.