Guangdong Modern High-tech Fiber (300876.SZ) plans to launch the first phase of an employee stock ownership plan.

Monte High-Tech (300876.SZ) disclosed the first phase of employee shareholding plan (draft), with a total number of participating employees not exceeding 300. The source of the shares in the employee shareholding plan is the shares repurchased by the company's special account for repurchase. The shareholding plan will acquire and hold the company's shares held by the company's repurchase special securities account in a manner allowed by laws and regulations such as non-trading transfer, totaling no more than 686,000 shares, accounting for 0.63% of the company's current total share capital. The price at which employees acquire repurchased shares in the employee shareholding plan will be based on the closing price of the company's stock on the day the plan is approved by the shareholders' meeting.