KINGLAND TECHNOLOGY(SZ:000711) Zheng Quan Zhi Xing·2025-05-21 12:00Core Viewpoint - The announcement details the achievement of the first exercise conditions for the 2024 stock option incentive plan of Jinglan Technology Co., Ltd, allowing 49 eligible participants to exercise a total of 109.475 million stock options at a price of 1.83 yuan per share [1][2][14]. Summary by Sections Stock Option Incentive Plan - The stock option incentive plan was approved by the board on May 5, 2025, confirming that the conditions for the first exercise period have been met [1][14]. - A total of 10,947.5 million stock options are available for exercise by 49 eligible participants [1][14]. Procedures and Approvals - The plan underwent necessary procedures, including reviews by the remuneration and assessment committee and independent directors, prior to approval by the shareholders' meeting [1][2]. - Adjustments were made to the plan, including the number of participants and stock options due to some participants opting out [2][10]. Performance Assessment - The performance assessment for the stock options is based on the company's revenue and net profit for the years 2024 and 2025, with specific targets set for each year [9][10]. - The exercise conditions include the absence of negative audit opinions and compliance with legal regulations [5][8]. Impact on Financials - If all options are exercised, the total share capital will increase from 2,856.976 million shares to 2,966.451 million shares, potentially diluting earnings per share and return on equity [14]. - The company has chosen the Black-Scholes model to determine the fair value of the stock options at the grant date [14]. Legal and Compliance - Legal opinions confirm that the necessary approvals and authorizations for the exercise of stock options have been obtained, and the company must fulfill its disclosure obligations [15].