Summary by Futu AI
XINTIAN GREEN ENERGY COMPLETED THE GRANT REGISTRATION OF THE RESTRICTED STOCK INCENTIVE SCHEME ON 14 MAY 2024 INVOLVING 1,860 MILLION SHARES, TOTALING 225 INCENTIVES. The program aims to motivate employees, improve the efficiency of the company's operations and received approval from the Board of Directors and the Board of Supervisors on April 26, 2024. The award price was RMB 4.10 per share and the shares originated as A shares ordinary shares issued to the Company. Incentives include senior executives such as directors, presidents, and other employees. Restricted shares have a maximum validity of 60 months and have a sales limit of 24 to 48 months. THE SUBSCRIPTION SHARES RECEIVED BY THE COMPANY TOTALLED RMB76,260,000.00 AND WILL BE USED FOR THE COMPANY'S DAY-TO-DAY OPERATIONS AND SUPPLEMENTAL CASH FLOW. This equity incentive plan is expected to have little impact on the Company's net profit in the coming years and may result in positive results due to improved performance.