On March 17th, GAC Group released a proposal on the implementation of employee stock ownership and related matters for GAC Aian. The proposal stated that GAC Aian will increase its capital by way of private agreement, and implement equity incentives for 679 employees of GAC Aian and 115 scientific researchers of GAC R&D Institute, with a total contribution of CNY 1.728 billion. After the completion of the plan, the shareholding system reform and Series A financing for GAC Aian will be promoted in due course.
794 individuals who have received equity incentives this time are all operational and management personnel as well as key scientific and technological personnel of GAC Aian, and 100% hold shares. Currently, GAC Aian has approximately 4,800 employees, and the coverage range of the employee stock ownership program this time exceeds 14%.
The CNY 1.8 billion capital increase introduced by GAC Aian this time comes entirely from 794 core employees, and the binding period of the equity incentives is up to 5 years.
Since November of last year, GAC has completed the internal resource integration of GAC Aian through methods such as cash capital increase, asset injection, and cash acquisition, and invested in Aian the R&D personnel, intangible assets, and fixed assets related to pure electric new energy field, realizing the integration of R&D and production, and possessing a more complete and efficient R&D capability.
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