Jiaxin Silk (002404): Proposed To Launch The First Phase Of Employee Stock Ownership Plan

Jiaxing Silk (002404) announced in the evening of September 13 that in order to further improve the company's long-term incentive mechanism, fully mobilize the enthusiasm of the company's core backbone and outstanding employees, improve the cohesion of employees and the company's competitiveness, and promote the company's long-term, sustainable and healthy development, the company, in accordance with the provisions of relevant laws, regulations and normative documents, It is proposed to launch the first employee stock ownership plan.

It is preliminarily estimated that the total number of shares involved in this employee stock ownership plan of the company will not exceed 8953904 shares repurchased for the first time during the period from July 2019 to June 2020, that is, not more than 1.55% of the total capital stock of the company. The specific scale will be subject to the draft of this employee stock ownership plan and the actual subscription and payment of employees disclosed in the future.

The participants of this employee stock ownership plan are the directors (excluding independent directors), supervisors, senior managers of the company (including holding subsidiaries), as well as core backbones and employees in key positions who have made outstanding contributions to the development of the company. The actual number of participants will be determined according to the actual subscription and payment of employees.