Yuanfang Optoelectronics plans to restart employee stock ownership plan

The "Oolong Incident" appeared at the shareholders meeting held by Yuanfang Optoelectronics on Friday. When voting on the employee stock ownership plan, the employee stock ownership plan was not approved due to the abstention of the minority shareholders. In this regard, Yuanfang Optoelectronics said in the "Announcement on Maintaining the Stability of the Company's Stock Price" that it will continue to promote the employee stock ownership plan.

The previous announcement showed that the shareholders' meeting last Friday was convened by the board of directors of Yuanfang Optoelectronics and was held in a combination of on-site voting and online voting. The first of these was a proposal for the “Yuanyiyi No. 1 Employee Stock Ownership Plan (Draft)”. The results showed that the number of shares agreed to was 495,000 shares, accounting for 35.95% of the valid voting rights at the meeting; against 1800 shares, which was attended. 0.13% of the effective voting rights; 880,000 shares abstained, accounting for 63.92% of the effective voting rights at the meeting. As the proportion of shares agreed to in the proposal did not reach 1/2 of the number of valid voting shares at the meeting, it was not passed.

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