Gree Electric Appliances Inc.Of Zhuhai(000651) board of directors
Explanation on the compliance of the company’s phase II employee stock ownership plan (Draft) with the relevant provisions of the guiding opinions on the pilot implementation of employee stock ownership plan by listed companies
The Gree Electric Appliances Inc.Of Zhuhai(000651) phase II employee stock ownership plan (Draft) (hereinafter referred to as “phase II employee stock ownership plan (Draft)”) is based on the company law of the people’s Republic of China, the securities law of the people’s Republic of China and the guidance on the pilot implementation of employee stock ownership plan by listed companies (hereinafter referred to as “guidance”) and Relevant laws, regulations, normative documents and provisions of Gree Electric Appliances Inc.Of Zhuhai(000651) articles of association are formulated, such as the guidelines for self discipline supervision of listed companies of Shenzhen Stock Exchange No. 1 – standardized operation of listed companies on the main board Gree Electric Appliances Inc.Of Zhuhai(000651) (hereinafter referred to as “the company”) the board of Directors hereby explains whether the employee stock ownership plan complies with the relevant provisions of the guiding opinions as follows:
1、 The company does not have any circumstances that prohibit the implementation of the employee stock ownership plan as stipulated in the guiding opinions and other laws, regulations and normative documents.
2、 The contents of the company’s second phase employee stock ownership plan (Draft) comply with the provisions of relevant laws, regulations and normative documents such as the company law of the people’s Republic of China, the securities law of the people’s Republic of China, the guiding opinions, and there is no situation that damages the interests of the company and all shareholders.
3、 There are no compulsory employee stock ownership plans and employee stock ownership plans.
4、 The board of supervisors has verified the subject qualification of the proposed holders and the determination criteria of the proposed participants in the company’s employee stock ownership plan, and believes that the proposed subject qualification of the proposed holders and the determination criteria of the proposed participants comply with the provisions of the guiding opinions and other laws, regulations and normative documents.
5、 The company’s implementation of ESOP is conducive to improving and perfecting the company’s incentive mechanism, effectively mobilizing the enthusiasm and creativity of the company’s management and employees, improving the cohesion of all employees and the competitiveness of the company, establishing the benefit sharing mechanism between workers and owners, making the interests of employees more closely combined with the long-term development of the company and realizing the sustainable development of the company.
To sum up, the board of directors of the company believes that the second employee stock ownership plan (Draft) complies with the relevant provisions of the guiding opinions.
Gree Electric Appliances Inc.Of Zhuhai(000651) board of directors may 20, 2002
