by ZHUANG Jian
CALB intends to terminate its 2021 equity incentive plan, with management and shareholders establishing a venture to acquire all shares involved.
This move has the same aim as the original plan - to motivate key employees. CALB acknowledged that the plan had not achieved the expected effects.
The plan was designed for approximately 800 key employees, most of whom subscribed for 500,000 yuan (US$70,000), and began in controversy with the under performance of the stock since listing. Those who signed up, now find themselves in the red, raising concerns about information disclosure by the company.
CALB has told employees that the change in the stock price was primarily due to restructuring, emphasizing that employee rights remained unchanged. The current stock price does not represent the final exit price of the plan.
Employees want the company to provide a clear exit plan for the program.
“Since CALB’s stock has deviated from the original goal of the plan, employees should at least be allowed to retain their principal,” said one.
In the first eight months of this year, CALB has seen its global market share in the power battery industry rise to 4.7 percent, ranking it sixth in the industry.
