Summary by Futu AI
Great Wall Motor announced on September 13, 2024 that the first lock-up period of its 2023 employee stock ownership plan expired on August 14, 2024, and the unlocking conditions have been met. A total of 2,908 employees are eligible for unlocking, with a total of 14,024,004 shares of stock to be unlocked. The company will apply to China Securities Depository and Clearing Corporation Limited Shanghai Branch to transfer the unlocked stocks to the individual accounts of the holders. The unlocking is based on the performance assessment at the company and individual levels, and has been approved by the board of directors, the compensation committee, and the supervisory committee. The automobile sales volume in 2023 was 1.2252 million vehicles, with a net income of 7.022 billion yuan, achieving a performance target completion rate of 94.78%. Therefore, the unlocking percentage at the company level is 94.78%.