Zhejiang Huangma Technology (603181.SH) terminates the third phase of employee stock ownership plan.

Zhejiang Huangma Technology (603181.SH) announced that since the launch of the third phase of the employee stock ownership plan, the company has been actively promoting the implementation of the plan. Through on-site presentations, online communication, and other methods, the company has been engaging with employees interested in participating in the plan. Considering factors such as the current capital market environment, incentive prices, lock-up periods, and assessment requirements, it has been confirmed that there is low interest among employees in subscribing to the third phase of the employee stock ownership plan. Continuing with the plan would make it difficult to achieve the expected incentive goals and effects. In order to better protect the interests of the company, shareholders, and employees, after careful consideration and in accordance with the regulations set forth in the "Guiding Opinions on the Pilot Implementation of Employee Stock Ownership Plans by Listed Companies," and following the principle of voluntary participation by employees, the company respects the employees' right to make autonomous decisions. Based on this, the decision has been made to terminate the implementation of the company's third phase of the employee stock ownership plan. The accompanying "Employee Stock Ownership Plan (Draft)" and related management documents will also be terminated.