1. Draw up the draft equity incentive plan and submit it to the board of directors for consideration;
2. Announce the resolutions of the board of directors, the summary of the draft equity incentive plan and the opinions of independent directors;
3. After the equity incentive plan was reviewed and approved by the shareholders' meeting, the company implemented the equity incentive plan.
legal ground
Article 142nd of the Company Law of People's Republic of China (PRC)
A company may not purchase its own shares. However, except for one of the following circumstances:
(1) Reduce the registered capital of the company.
(2) Merging with other companies holding shares of the Company;
(3) Using shares for employee stock ownership plan or equity incentive;
(4) Shareholders request the company to purchase their shares because they disagree with the resolution of merger or division made by the shareholders' meeting;
(5) Using shares for the conversion of corporate bonds convertible into shares by listed companies.
(6) The need for listed companies to safeguard their own values and shareholders' rights and interests.