On May 23, GLONGHUI (688058.SH) announced that due to major changes in the market environment and the formulation of employee stock ownership plans, and differences in subjective and objective conditions such as the income level and risk tolerance of the company's employees, it will be difficult to achieve the expected incentive goals and results if the 2023 employee stock ownership plan continues to be implemented. Combining the wishes of the current employee shareholding plan target, recent market environment factors, and the company's future development strategic plan, in order to better protect the interests of the company, shareholders and employees, after careful consideration, it was decided to terminate the company's 2023 employee stock ownership plan early, and to terminate it along with documents such as the employee stock ownership plan management measures supporting the current employee stock ownership plan.