Zhejiang Jiuli approves 2025 employee stock ownership plan

Zhejiang Jiuli Hi-tech Metals Co., Ltd. has approved its 2025 Phase 1 Employee Stock Ownership Plan. The plan includes up to 18,003,377 shares, representing 1.84% of the company's current total share capital. Funds for the plan, totaling up to CNY 245,926,130, will come from employees' legal compensation and self-raised funds, with shares purchased from the company's repurchased stock at CNY 13.66 per share.

The plan has a 60-month duration, with a 12-month lock-up period for the acquired shares. After the lock-up, shares will vest in two equal tranches following the announcement of the 2026 and 2027 annual reports, contingent on both company and individual performance targets. Company performance targets include 10% revenue growth for 2026 and 20% for 2027, based on 2024 revenue.

Shareholders approved the plan at the second extraordinary general meeting on December 5, 2025. The plan and its management methods passed with over 99% of votes, and the board of directors was authorized to handle related matters. This move aims to enhance employee motivation and strengthen the company's competitive advantage.