Wafer Works (688584.SH) plans to launch the second phase of its long-term employee stock ownership program.

Wafer Works (688584.SH) has disclosed the draft for the second phase of the medium- to long-term employee stock ownership plan. The scope of participants includes directors, senior management, and other personnel deemed necessary for incentives by the board of directors. The stock for the employee stock ownership plan will be sourced from purchases in the secondary market (including block trades and centralized bidding) or other methods permitted by laws and regulations, holding Wafer Works A-share common stock. The medium- to long-term employee stock ownership plan formulated by the company for 2024 is still being implemented. As of the disclosure date of this stock ownership plan draft, a total of 768,455 shares of the companys stock have been cumulatively purchased. After the implementation of this employee stock ownership plan, the total number of shares held by all previously established and existing employee stock ownership plans shall not exceed 10% of the company's total equity. The cumulative number of shares corresponding to the stock ownership plan held by a single employee (including all phases) shall not exceed 1% of the company's total equity.