Kuang-Chi Technologies moves forward with 2025 employee stock plan

Beijing Yingke (Shenzhen) Law Firm has issued a legal opinion on Kuang-Chi Technologies' 2025 Employee Stock Ownership Plan. The plan, approved by the fifth board of directors and its remuneration and assessment committee, is structured to be voluntary for employees and managed by the company. It adheres to regulatory guidelines, ensuring no internal trading, market manipulation, or fraudulent activities.

The plan's participants include directors (excluding independent directors), senior management, and core employees, with funding derived from legal employee compensation, self-raised capital, and other legally permitted sources. The stock for the plan will come from shares repurchased by the company. The total size of the plan is limited to 1.36m shares, representing approximately 0.06% of the company's total share capital. After implementation, the aggregate number of shares held under all effective employee stock ownership plans will not exceed 10% of the company's total share capital.

The plan has a maximum duration of 48 months from the date the company's shares are transferred to the plan, with unlocking occurring in three phases: 30% after 12 months, 30% after 24 months, and 40% after 36 months. The legal opinion confirms that necessary legal procedures and information disclosure obligations have been completed, with final approval contingent upon a shareholders' meeting.