Bestway Marine & Energy's employee stock plan offloads shares, terminates early

Bestway Marine & Energy Technology Co., Ltd. announced today that its 2022 employee stock ownership plan (the plan) has fully sold its shares through secondary market concentrated bidding, leading to its early termination. The plan, approved on November 10, 2022, saw 11,450,400 shares, representing 0.66% of the company’s total share capital, transferred to the plan's dedicated account on January 30, 2023, at a price of 2.63 yuan per share.

The plan's shares were to be unlocked in two phases. The first phase, comprising 5,725,200 shares (50% of the total), was unlocked on January 30, 2024. The second phase, with 4,580,160 shares (40% of the total), was unlocked on January 30, 2025. The remaining 10% of the shares, totaling 1,145,040, which were not unlocked, were also sold through concentrated bidding.

Between March 19, 2024, and November 19, 2025, the plan cumulatively reduced its holdings of 11,450,400 company shares. The company affirmed that the plan adhered to stock market trading rules and regulations concerning insider trading. The management committee will now proceed with asset liquidation and distribution according to the plan's regulations.