Financial news app, wuxi chipown micro-electronics (688508.SH) announced that when the company formulated the first phase of employee stock ownership plan at the beginning of 2023, it expressed optimism about the external environment and business development. However, considering the current challenge of macroeconomic recovery and significant market demand fluctuations, taking into account market environmental factors and the company's future development plans, the company anticipates a deviation between the operating situation and the assessment indicators of the incentive plan. If this employee stock ownership plan continues, it will be difficult to achieve the expected incentive goals and effects. Now, based on the willingness of the incentive recipients and the actual situation of the company, in accordance with the relevant regulations such as the "Guiding Opinions on the Implementation of Employee Stock Ownership Plans by Listed Companies", "Self-Regulatory Guidelines for Listed Companies on Shanghai Stock Exchange No. 1 - Standard Operation", and the "First Phase Employee Stock Ownership Plan (Draft) of wuxi chipown micro-electronics Co., Ltd.", after careful study, the company's board of directors decided to terminate the first phase of the employee stock ownership plan.