China’s Top Electric Appliances Manufacturer Gree Cancels Employee Stock Ownership Plan

(Source: VCG)

China’s electric appliance giant Gree is planning to cancel the company’s employee stock ownership plan, leading its total equity to shrink from 6.016 billion units to 5.914 billion units.

In the past six months, Gree has seen fluctuations in its stock price, peaking at 69.79 yuan in December last year. However, to date, its market value has…