Zhitong Finance App News, Xinpeng (688508.SH) issued an announcement. When formulating the first employee shareholding plan in early 2023, the company expressed an optimistic attitude about the company's external environment and business development. However, given the current challenges in macroeconomic recovery and large fluctuations in market demand, taking into account market environmental factors and the company's future development plans, there is a deviation between the company's expected operating conditions and the establishment of incentive plan assessment indicators. If the employee stock ownership plan continues to be implemented, it will be difficult to achieve the expected incentive goals and results. Based on relevant regulations such as the “Guiding Opinions on the Implementation of Pilot Employee Shareholding Plans by Listed Companies”, “Shanghai Stock Exchange Listed Companies Self-Regulatory Guidelines No. 1 - Standardized Operation”, and “Wuxi Xinpeng Microelectronics Co., Ltd. Phase 1 Employee Stock Ownership Plan (Draft)” and other relevant regulations, based on careful research, the board of directors of the company decided to terminate the first phase of the employee stock ownership plan.

Zhitong Finance App News, Xinpeng (688508.SH) issued an announcement. When formulating the first employee shareholding plan in early 2023, the company expressed an optimistic attitude about the company's external environment and business development. However, given the current challenges in macroeconomic recovery and large fluctuations in market demand, taking into account market environmental factors and the company's future development plans, there is a deviation between the company's expected operating conditions and the establishment of incentive plan assessment indicators. If the employee stock ownership plan continues to be implemented, it will be difficult to achieve the expected incentive goals and results. Based on relevant regulations such as the “Guiding Opinions on the Implementation of Pilot Employee Shareholding Plans by Listed Companies”, “Shanghai Stock Exchange Listed Companies Self-Regulatory Guidelines No. 1 - Standardized Operation”, and “Wuxi Xinpeng Microelectronics Co., Ltd. Phase 1 Employee Stock Ownership Plan (Draft)” and other relevant regulations, based on careful research, the board of directors of the company decided to terminate the first phase of the employee stock ownership plan.