Weichai Power: Leveraging equity Incentives to Draw a blueprint for high-quality Development

On October 24, 2023, Weichai Power disclosed its 2023 A-share restricted stock incentive plan, proposing to grant 85.44 million restricted stocks to 716 incentive recipients. As one of the most powerful automotive and equipment manufacturing industrial groups in China in terms of comprehensive strength, the implementation of this equity incentive plan will provide strong impetus for Weichai Power to continuously deepen reform, improve quality and efficiency, and maintain high-quality development of the enterprise.

Science and technology are the primary productive forces, talent is the primary resource, and innovation is the primary driving force. All along, Weichai Power has adhered to the construction of high investment, high platform and high level in scientific and technological innovation, and the management of talent teams with high goals, high incentives and high contributions. The company's implementation of this incentive plan is mainly aimed at the company's directors, senior management personnel, middle-level management personnel and core technical (business) backbone personnel, fully activating the enthusiasm of the core management team and core backbone personnel, achieving the consistency of interests among shareholders, the company and the incentive recipients, and bringing more lasting and substantial returns to shareholders. Meanwhile, Weichai Power, in light of its current development status and future strategic planning, has formulated challenging performance assessment indicators and strict individual assessment indicators, closely integrating personal development with the company's development to create a highly dynamic talent ecosystem.

Under the new development pattern, market competition is fundamentally a competition for talent. Taking the initiative in talent means taking the initiative in development. As domestic and international market competition becomes increasingly fierce, Weichai Power will further establish and improve a long-term incentive and restraint mechanism by implementing equity incentives, form a sound and balanced value distribution system, attract and retain global outstanding talents, unite hearts and minds, consolidate the foundation for enterprise development, and promote the construction of a world-class enterprise.