Changxin Memory Technologies Provides Explanation on Employee Incentive Allocation Execution Details

Odaily reported on July 15 that Changxin Memory Technologies held an online investor communication session for its STAR Market IPO. An investor inquired about the company's employee stock ownership plan arrangements. Yuan Yuan, Vice President and Board Secretary of Changxin Memory Technologies, stated that the company has implemented two phases of its employee stock ownership plan. The first phase had a grant price of 1.05 RMB per registered capital share, covering a total of 3,596 participants; the second phase had a grant price of 0.108 RMB per registered capital share, covering a total of 3,164 participants. Through the implementation of the employee stock ownership plan, the company has established and improved a long-term incentive and constraint mechanism, fully mobilizing the initiative of its R&D and core management personnel. This approach is conducive to balancing the long-term interests of both employees and the company and is expected to have a positive impact on the company's future financial condition and operating results. (Shanghai Securities News)