Xian Actionpower Electric (688719.SH) plans to launch the first phase of an employee stock ownership plan.

Xi'an Actionpower Electric (688719.SH) disclosed the first phase of the employee stock ownership plan (draft), with a maximum of 101 participants (excluding reservations), and the stock purchase price for the employee stock ownership plan is 13.55 yuan per share. The source of the stocks for the employee stock ownership plan is the company's repurchased company A shares held in a special account. The total number of shares to be acquired in this employee stock ownership plan does not exceed 4.5 million shares, accounting for 3.90% of the company's current total share capital. Of these, 3.9374 million shares are to be acquired in the first phase, accounting for 87.50% of the total number of shares in this employee stock ownership plan; 0.5626 million shares are reserved, accounting for 12.50% of the total number of shares in this employee stock ownership plan.