Tianjin You Fa Steel Pipe Group Stock (601686.SH) plans to launch the "Common Wealth No.1" employee stock ownership plan.

Tianjin You Fa Steel Pipe Group Stock (601686.SH) disclosed the "wealth sharing No.1" employee stock ownership plan (draft), with a total number of employees participating not exceeding 800 people. The employee stock ownership plan aims to raise a total capital amount of up to 240 million yuan, with "shares" as the subscription unit, and each share is priced at 1.00 yuan. The ratio of financing funds to own funds shall not exceed 1:1. The sources of shares for this employee stock ownership plan include shares repurchased by the company through a dedicated account for repurchase, as well as acquiring and holding company stocks through secondary market purchases (including but not limited to centralized bidding, block trading, agreement transfer, etc.) or other methods permitted by laws and regulations. Based on the total capital limit of 240 million yuan for the employee stock ownership plan and the average price per share of 5.71 yuan on the day before the announcement of the plan, the total maximum number of target stocks that the plan can purchase and hold is approximately 42,031,523 shares. Considering the existing shares held by the employees under the "sharing No.1" employee stock ownership plan (495,420 shares) and the "creation No.1" employee stock ownership plan (565,000 shares), the total maximum holding limit for all employee stock ownership plans is approximately 52,635,723 shares, accounting for approximately 3.68% of the company's total share capital. The purchase price for acquiring the target stocks held in the company's repurchase dedicated securities account through block trading, non-trading transfer, and other methods is set at 5.71 yuan per share.