Chongqing Afari Technology (601777.SH) plans to launch a 2026 employee stock ownership plan.

Chongqing Afari Technology (601777.SH) disclosed the draft of its 2026 Employee Stock Ownership Plan. The participants in the initial grant portion are mid-level management personnel and core key employees of the company (including consolidated subsidiaries and branches) who play an important role in and have an impact on the company's overall performance and medium- to long-term development. The initial number of participants is planned to be no more than 260, accounting for 3.74% of the company's total workforce of 6,949 employees as of December 31, 2025. The shares under the Stock Ownership Plan are sourced from the company's A-share ordinary shares repurchased through the company's dedicated repurchase securities account. The transfer price for the Stock Ownership Plan to purchase the repurchased shares (including reserved interests) is RMB 8.08 per share. The funding sources for the Stock Ownership Plan are the reward fund set aside by the company, employees' lawful remuneration, self-raised funds, and funds obtained through other means permitted by laws and administrative regulations. The reward fund is part of employee remuneration, and the final impact on the company's operating performance shall be subject to the audit report issued by the accountant. The total amount of funds the Stock Ownership Plan intends to raise shall not exceed RMB 130 million, with "units" as the subscription unit, each unit being RMB 1.00, of which 95 million units are intended for the initial grant and 35 million units are reserved. The final scale shall be determined based on the actual capital contributions and payments made by the holders.