Shuanghuan Driveline approves 2025 employee stock ownership plan committee

Zhejiang Shuanghuan Driveline Mechanical Co., Ltd. held the first meeting of holders for its 2025 employee stock ownership plan on December 8, 2025, via teleconference. Convened by company secretary Chen Haixia, the meeting saw 351 out of 352 eligible holders attend, representing 163,830,753 shares, or 99.90% of the plan's total shares. All proposals passed unanimously.

Key resolutions included establishing a three-member management committee, tasked with overseeing the plan's daily operations and exercising shareholder rights. The committee members, elected for the plan's duration, are Jing Daiyun, Li Shuitu, and Li Zhiqiang. Jing Daiyun was subsequently elected committee chairman. None of the committee members hold positions in the company's controlling shareholder or are related to shareholders holding 5% or more of the company's shares, actual controllers, directors, supervisors, or senior management.

The meeting also authorized the management committee to handle various matters related to the plan. This includes convening holder meetings, managing benefit distribution, deciding on holder disqualification, processing share repurchases and inheritances, and signing relevant documents. This authorization is effective from the date of approval until the plan's termination.