Great Wall Motor (GWMOTOR) has released its 2026 AGM circular outlining a slate of capital and governance proposals to be tabled in Baoding on 26 June 2026.
Dividend and Earnings Distribution • Board proposes a cash dividend of RMB0.35 per share for FY 2025, equivalent to RMB2.99 billion, representing a 30.36% payout of 2025 attributable net profit. • H-share record date: 10 July 2026; expected payment on 7 August 2026.
Capital Mandates • Share Issue: Directors seek a 12-month general mandate to issue up to 20% of existing A- and H-share capital. • Share Buy-back: Separate mandates permit repurchase of up to 10% of each of A- and H-shares in issue, subject to regulatory approvals.
2026 Restricted A-Share Incentive Scheme • Maximum 37.30 million A shares (0.44% of issued capital) to be granted to no more than 1,515 management and core technical staff. • Grant price: RMB10.38 per share; validity period: up to 36 months. • Two unlocking tranches—50% after 12 months and 50% after 24 months—conditional on company and individual performance. • Corporate hurdles: – 2026 sales ≥1.80 million vehicles and net profit ≥RMB10.00 billion. – 2027 sales ≥2.16 million vehicles and net profit ≥RMB15.00 billion. • Individual unlocking ratios linked to annual performance grades.
Remuneration & Governance Updates • Revised Remuneration Management System submitted for approval. • Re-appointment of Deloitte Touche Tohmatsu CPAs LLP as external auditor for 2026; annual fee capped at RMB4.50 million. • Election of the ninth Board, including re-election of three executive directors (Wei Jian Jun, Zhao Guo Qing, Li Hong Shuan), one non-executive director (He Ping) and three independent non-executive directors (Tom Siulun Chau, Fan Hui, Tian Ya Juan).
Ordinary Related-party Transactions • 2026 transaction caps with Chairman Wei Jian Jun and related companies include: – Purchase of products: RMB11.95 billion. – Sales of products: RMB804.52 million. – Purchase of services: RMB174.56 million. – Provision of services: RMB142.67 million. – Short-term leases: RMB412.67 million. – Long-term leases (right-of-use asset value): RMB1.19 billion. – Provision of leases: RMB20.00 million.
Termination of 2023 ESOP • Company to repurchase and cancel 6.93 million A-shares that failed to meet vesting conditions at RMB13.52 per share and formally terminate the 2023 Employee Stock Ownership Plan.
Meeting Details • AGM, H-shareholders’ and A-shareholders’ class meetings all scheduled for 26 June 2026 at the Company’s Baoding headquarters. • H-share register closes 23–26 June 2026.
If approved, the mandates and the 2026 restricted share plan will provide GWMOTOR with flexible funding, a refreshed incentive structure and updated governance arrangements for its next growth phase.
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