Jiuli Hi-tech Metals launches 2025 employee stock ownership plan

Zhejiang Jiuli Hi-tech Metals announced its 2025 First-Phase Employee Stock Ownership Plan, following approval from its Remuneration and Assessment Committee. The plan aims to strengthen long-term incentive and retention mechanisms for key talent, proposing to grant up to 18,003,377 shares, representing 1.84% of current total share capital, at a purchase price of yuan 13.66 per share. These shares originate from the company's previously repurchased A-shares.

The plan includes a 12-month lock-up period, followed by two equal vesting periods in 2026 and 2027. Vesting is contingent on company performance targets of 10% and 20% growth in operating revenue, respectively, based on 2024 figures. The estimated total cost of the plan is yuan 185,943,580, to be amortized from 2026 to 2028. The board approved the draft plan on November 17, 2025, with an extraordinary general meeting scheduled for December 5, 2025, for shareholder approval.

Participants include 5 directors and senior management, holding 0.89% to 0.28% individually, and up to 945 other employees, accounting for 80.85% of the initial allocation. A reserve of 16.71% of total shares is also included. The plan is designed to align employee and shareholder interests and promote sustainable development.