C&S Paper Co., Ltd. (002511.SZ) plans to launch the fourth phase of its employee stock ownership plan.

C&S Paper Co., Ltd. (002511.SZ) disclosed the fourth phase of the employee stock ownership plan (draft), with the expected participation of not more than 150 individuals, including 6 company directors and senior executives. The total amount of funds to be raised will not exceed 77.74 million yuan, with each "unit" of subscription priced at 1.00 yuan. The maximum number of units for the employee stock ownership plan is set at 77.74 million units, with the specific amount subject to actual circumstances. Upon approval by the company's shareholders' meeting, the employee stock ownership plan will purchase up to 23 million shares of the company's repurchased shares through legal means such as non-trading transfer, amounting to 1.78% of the company's total share capital as of the announcement date. The price at which the employee stock ownership plan will acquire the company's repurchased shares is 3.38 yuan per share.