Core Insights - Capital Online (300846.SZ) released its semi-annual report for 2025, revealing that as of August 21, 2025, five institutional investors disclosed holdings in Capital Online A-shares, totaling 7.1835 million shares, which represents 1.43% of the total share capital [1] - The overall institutional holding percentage decreased by 0.60 percentage points compared to the previous quarter [1] Institutional Holdings - The institutional investors include Hong Kong Central Clearing Limited, Minqing County Lianyu Enterprise Management Center (Limited Partnership), Abu Dhabi Investment Authority, MORGAN STANLEY & CO. INTERNATIONAL PLC., and Jin Xin Quantitative Selected Mixed A [1] - One public fund, Jin Xin Quantitative Selected Mixed A, reported a slight decrease in holdings compared to the previous quarter [1] - One public fund, Yongying Technology Smart Selection Mixed Initiation A, was not disclosed in the current period compared to the previous quarter [1] Foreign Investment - One foreign fund, Hong Kong Central Clearing Limited, reported a decrease in holdings, with a reduction percentage of 0.65% compared to the previous quarter [1] - A new foreign institution, Abu Dhabi Investment Authority, disclosed its holdings in the current period [1] - MORGAN STANLEY & CO. INTERNATIONAL PLC. was not disclosed in the current period compared to the previous quarter [1]

Core Viewpoint - Capital Online (SZ 300846, closing price: 22 yuan) announced on August 21 that its sixth board meeting was held on the same day, discussing various proposals including the full text and summary of documents [2]. Financial Performance Summary - For the first half of 2025, Capital Online's revenue composition is as follows: - Computer software applications accounted for 26.09% - Other segments accounted for 25.57% - Large models and AIGC (Artificial Intelligence Generated Content) accounted for 16.4% - Gaming accounted for 15.62% - Video accounted for 8.03% - E-commerce accounted for 5.43% [2].

Core Points - The company, Capital Online (300846.SZ), announced a restricted stock incentive plan for 2025, proposing to grant a total of 3 million restricted shares, which accounts for 0.60% of the company's total share capital of 501.908216 million shares at the time of the announcement [1] - The initial grant will consist of 2.4 million shares, representing 0.48% of the total share capital, and will account for 80% of the total equity to be granted [1] - An additional 600,000 shares are reserved, which is 0.12% of the total share capital, making up 20% of the total equity to be granted [1] - The grant price for the initial restricted shares is set at 10.98 yuan per share [1] - A total of 46 individuals, including directors, senior management, and core technical personnel, will be the recipients of the initial grant [1] - The incentive plan will be effective from the date of the first grant of restricted shares until all shares are vested or become invalid, with a maximum duration of 60 months [1]

格隆汇8月21日丨首都在线(300846.SZ)公布2025年半年度报告，上半年公司实现营业收入6.29亿元，同 比下降11.82%；归属于上市公司股东的净利润-7095.93万元；归属于上市公司股东的扣除非经常性损益 的净利润-7679.80万元；基本每股收益-0.1417元。 ...

Meeting Overview - The sixth board meeting of Beijing Capital Online Technology Co., Ltd. was held on August 21, 2025, with all seven directors present, confirming compliance with relevant laws and regulations [1][2]. Resolutions Passed - The board approved the full and summary reports of the 2025 semi-annual report with a unanimous vote of 7 in favor [2]. - The board also approved the special report on the storage and use of raised funds for the first half of 2025, again with a unanimous vote of 7 in favor [2]. - The board agreed that the first vesting period conditions for the reserved grant of the 2023 restricted stock incentive plan had been met, allowing for the granting to 23 eligible incentive objects, with one related director abstaining from the vote [3]. - The board resolved to void 6.005 million shares of restricted stock from the 2022 incentive plan that had been granted but not vested due to unmet performance targets and the departure of some incentive objects [4]. - The board approved the voiding of 324,000 shares from the 2023 incentive plan due to the departure of 7 incentive objects and performance issues for 6 others, with a unanimous vote of 7 in favor [5]. - The board approved the draft of the 2025 restricted stock incentive plan to attract and retain talent, which will require further approval from the shareholders [6]. - The board approved the formulation of the assessment management measures for the 2025 restricted stock incentive plan, which will also require shareholder approval [7]. - The board proposed to authorize the board to handle various matters related to the 2025 restricted stock incentive plan, including determining grant dates and adjusting stock quantities in case of capital changes [8][9]. - The board approved adjustments to the performance assessment requirements for the 2023 restricted stock incentive plan for the years 2025-2027, reflecting the company's strategic focus on profitability [10][11]. - The board proposed to convene the third extraordinary general meeting of shareholders on September 9, 2025, to review matters requiring shareholder approval [11]. Documentation - The resolutions and meeting minutes will be available for review on the company's official website [12].

Core Viewpoint - The company has proposed a 2025 Restricted Stock Incentive Plan, which has been reviewed and deemed compliant with relevant laws and regulations, aiming to enhance its long-term incentive mechanism and attract talent [1][2][3][4] Group 1: Compliance and Eligibility - The company does not have any prohibitive circumstances for implementing the stock incentive plan as per the relevant laws and regulations [1] - The individuals included in the incentive plan meet the qualifications set forth in the Company Law, Securities Law, and other relevant regulations, ensuring they are appropriate candidates [2] Group 2: Approval and Process - The incentive plan will be publicly announced internally for at least 10 days after board approval, allowing for feedback before it is presented to the shareholders [3] - The plan's formulation and review process align with legal requirements, ensuring that the granting and vesting arrangements for restricted stocks do not violate any laws or harm the interests of the company and its shareholders [3][4] Group 3: Benefits of the Plan - The implementation of the incentive plan is expected to strengthen the company's long-term incentive mechanism, retain top talent, and align the interests of shareholders, the company, and the core team [4]

Group 1 - The board's remuneration and assessment committee has reviewed and approved the list of 23 eligible participants for the first vesting period of the 2023 restricted stock incentive plan, confirming their qualifications under relevant laws and regulations [1][2] - The company plans to adjust the supervisory body of the 2023 restricted stock incentive plan to the board's remuneration and assessment committee, ensuring compliance with legal requirements and maintaining the interests of the company and its shareholders [2][3] - The revised 2023 restricted stock incentive plan aims to enhance the effectiveness of equity incentives, attract and retain talent, and motivate the core team, ensuring smooth implementation of the incentive plan [2][3]

证券代码：300846 证券简称：首都在线 公告编号：2025-078 北京首都在线科技股份有限公司 关于召开 2025 年第三次临时股东会的通知 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、 误导性陈述或重大遗漏。 北京首都在线科技股份有限公司（以下简称"公司"）第六届董事会第七次会议审 议通过了《关于提请召开2025年第三次临时股东会的议案》，定于2025年9月9日（周二） 召开公司2025年第三次临时股东会。现将本次股东会具体召开事宜通知如下： 一、召开会议的基本情况 文件、深圳证券交易所的业务规则和《北京首都在线科技股份有限公司章程》（以下简 称"《公司章程》"）的规定。 （1）现场会议时间：2025年9月9日（周二）下午14:50 （2）网络投票时间：2025年9月9日（周二） 其中，通过深圳证券交易所交易系统进行网络投票的具体时间为2025年9月9日 间为2025年9月9日9:15-15:00期间的任意时间。 公司将通过深圳证券交易所交易系统和互联网投票系统（wltp.cninfo.com.cn）向公 司股东提供网络形式的投票平台，股东可以在网络投票时间内通过上述系统行 ...

Core Viewpoint - The company, Beijing Capital Online Technology Co., Ltd., is implementing a restricted stock incentive plan aimed at enhancing employee motivation and retaining key talent, particularly in a competitive industry environment [4][6][19]. Group 1: Incentive Plan Overview - The restricted stock incentive plan will be managed by the company's Board of Directors' Compensation and Assessment Committee, focusing on the company's actual situation and policy environment in China [3][4]. - The total number of restricted stocks to be granted under this plan does not exceed 3 million shares, accounting for approximately 0.60% of the company's total share capital [7][8]. Group 2: Target Recipients and Allocation - The incentive plan targets directors, senior management, and core technical (business) personnel within the company and its subsidiaries [4][5]. - The initial grant will not include independent directors or shareholders holding more than 5% of the company's shares [5][6]. Group 3: Grant and Vesting Conditions - The vesting of restricted stocks is contingent upon the company meeting specific performance targets, including revenue growth rates of at least 23.20% for 2025 and 41.68% for 2026, based on 2023 figures [17][18]. - The grant price for the restricted stocks is set at 10.98 yuan per share, which is aligned with regulatory requirements [18][23]. Group 4: Compliance and Feasibility - The independent financial advisor confirms that the incentive plan complies with relevant laws and regulations, ensuring that it does not harm the interests of the company and its shareholders [19][21][24]. - The plan includes provisions for adjusting the number of granted stocks in case of corporate actions such as stock splits or dividends [8][9]. Group 5: Financial Implications - The implementation of the incentive plan is expected to have a positive impact on the company's ongoing operational capacity and shareholder equity, as the interests of the incentive recipients will align with those of the shareholders [26].

Core Viewpoint - The company has announced the adjustment of its 2023 Restricted Stock Incentive Plan to enhance its long-term incentive mechanism, attract and retain talent, and align the interests of shareholders, the company, and core team members [4][8][19]. Summary by Sections Approval Process - The 2023 Restricted Stock Incentive Plan has undergone necessary approval procedures, including resolutions passed by the board and supervisory committee on December 6, 2023, and subsequent public announcements regarding the incentive recipients [4][5][6]. Performance Assessment Criteria - The performance assessment for the first grant of restricted stocks will be based on annual revenue growth rates, with specific targets set for 2024, 2025, and 2026, starting from the 2023 revenue base [10][14][19]. - The targets for the first grant are as follows: - 2024: Revenue growth rate not less than 10% - 2025: Revenue growth rate not less than 23.20% - 2026: Revenue growth rate not less than 41.68% [11][14]. Adjustments to the Plan - The plan has been adjusted to include a dual indicator assessment model focusing on both revenue growth and net profit reduction, reflecting the company's strategic goal of turning losses into profits [8][17]. - The adjustments also include changes to the supervisory body, shifting from the supervisory committee to the remuneration and assessment committee [9][20]. Individual Performance Evaluation - Individual performance evaluations will be conducted annually, with results influencing the proportion of stock that can be vested for each incentive recipient [12][13]. - The evaluation results will be categorized into four levels, determining the vesting percentage of the restricted stocks [11][13]. Long-term Strategic Goals - The adjustments to the incentive plan are aimed at ensuring the effective implementation of the company's strategic goals, particularly in cost control and resource optimization, to enhance profitability [8][19]. - The plan's performance indicators are designed to be reasonable and operable, aligning with the company's long-term development needs and benefiting the interests of all shareholders [20][21].