Nezha Auto launches equity incentive plan for all employees and implements salary cuts

According to the latest reports, Nezha Auto has begun to implement a salary reduction plan for all R&D personnel. The plan includes a 30% salary cut for employees with an annual salary of more than 1 million yuan, a 20% salary cut for employees with an annual salary of 500,000-1 million yuan, a 10% salary cut for employees with an annual salary of 300,000-500,000 yuan, and a 5% salary cut for employees with an annual salary of less than 300,000 yuan. In addition, if the employee's salary is still higher than the "position salary", it will need to be reduced by another 10%. In response, Nezha Auto responded that it had launched an equity incentive plan for all employees on October 29, and would allocate 5% of its shares (valued at approximately 2 billion yuan) to all employees, and announced a new salary and performance appraisal plan. The adjustment is to achieve the company's goal of turning its operating cash flow positive as soon as possible.