Shanghai Smith Adhesive New Material (SH:603683) Zheng Quan Zhi Xing·2025-05-23 10:31Core Viewpoint - The legal opinion letter from Shanghai Dongfang Huayin Law Firm addresses the adjustments to the 2024 restricted stock and stock option incentive plan of Shanghai Jinghua Adhesive New Materials Co., Ltd, including the repurchase price of restricted stocks and the cancellation of certain stock options and restricted stocks [1][2][4]. Group 1: Approval and Authorization - The approval and authorization for the 2024 restricted stock and stock option incentive plan were conducted in accordance with relevant laws and regulations, with specific proposals reviewed and approved by the company's board and supervisory committee [5][7]. - The board's authorization allows for the adjustment of the incentive plan, including the cancellation of stock options and repurchase of restricted stocks for two individuals who have left the company [8][9]. Group 2: Repurchase Price Adjustment - The repurchase price for restricted stocks has been adjusted from 4.24 CNY per share to 4.15 CNY per share, following the company's profit distribution plan [9][11]. - The adjustment is based on the company's decision to distribute a cash dividend of 0.09 CNY per share, which necessitates a recalibration of the repurchase price [10][11]. Group 3: Cancellation and Repurchase Details - The company plans to cancel a total of 50,000 stock options and repurchase 64,400 restricted stocks from the two individuals who no longer qualify as incentive targets due to personal reasons [12][15]. - The total payment for the repurchase of restricted stocks will amount to 267,260 CNY, which will be funded from the company's own resources [12][14]. Group 4: Compliance and Future Steps - The adjustments and cancellations have been deemed compliant with the relevant regulations, and the company is required to fulfill information disclosure obligations and complete the necessary legal procedures for share cancellation and reduction [15][16]. - The legal opinion confirms that all necessary approvals and authorizations have been obtained for the adjustments and cancellations, ensuring alignment with the company's incentive plan and regulatory requirements [15].