Vanward New Electric advances 2025 ESOP with management committee, account setup

Guangdong Vanward New Electric announced progress on its 2025 employee stock ownership plan (ESOP). Following approvals in September and October 2025, the company officially opened a securities account for the ESOP on November 4, 2025. As of the announcement date, the ESOP has not yet received shares from the company's buyback dedicated securities account.

Concurrently, the first meeting of the 2025 ESOP holders took place on November 5, 2025. During this meeting, a three-member management committee was established, chaired by Rong Yisheng, and including Sun Yingkai and Yuan Hezhen, to oversee the ESOP's daily operations and exercise shareholder rights excluding attendance, proposal, and voting rights. The ESOP holders, representing 12,886,901 units, unanimously approved all resolutions, including the establishment of the committee and its authorization to handle related matters.