Chalco clears third unlocking phase under 2021 restricted share incentive plan

Stock image for referential purposes only

Aluminum Corporation of China (Chalco) has confirmed that the conditions for the third unlocking period of restricted A shares issued under its 2021 restricted share incentive plan have been met.

The company said the latest unlocking follows a series of earlier adjustments made to the scheme, including the repurchase and cancellation of restricted shares that did not meet vesting requirements.

Previous rounds of share unlockings and listings have also been completed as part of the programme.

The incentive scheme is designed to link employee compensation with company performance while helping retain key personnel. The latest unlocking indicates that the relevant performance and vesting conditions have been achieved for the eligible participants.

Explore: The most comprehensive and forward-looking industry-focused report – Global Bauxite & Alumina Market Forecast to 2036: Supply–Demand, Trade Flows & Price Outlook

The company has been managing the schemes through regular reviewing and making adjustments, such as cancelling unvested shares where necessary. The latest development indicates that the long-term incentive programme is in line with the plan. 

The continued implementation of the scheme also reflects the company’s focus on performance-based compensation and corporate governance practices. The third unlocking is another step in the ongoing implementation of Chalco’s 2021 equity incentive plan.

The latest analyst rating is Buy, with a price target of HK$18.10. 

Explore our e-magazine ALuminium LeaderSpeak 2026 for the latest industry insights and trends.