Fujian Torch Electron Technology (603678.SH) plans to launch the fourth phase of employee stock ownership plan.

Fujian Torch Electron Technology (603678.SH) disclosed the fourth phase of the employee stock ownership plan (draft), with the participants including company directors (excluding independent directors), supervisors, senior management, core personnel of the company and its controlling subsidiaries. The total number of holders expected at the initial establishment is not more than 178 people. The employee stock ownership plan aims to raise a total amount of capital up to 32.6815 million yuan, with "units" as the subscription unit. Each unit is priced at 1.00 yuan, with a total subscription limit of not more than 32.6815 million units. The source of stocks for the employee stock ownership plan is the Fujian Torch Electron Technology A-share common stocks repurchased by the company's repurchase dedicated securities account. The total size of the employee stock ownership plan is not more than approximately 1.72 million shares, accounting for about 0.38% of the company's current total share capital. The transfer price for the employee stock ownership plan is 19 yuan per share.