Pylon Technologies(SH:688063) Zheng Quan Zhi Xing·2025-05-26 12:23Core Viewpoint - The report outlines the independent financial advisory opinion regarding the implementation of the 2025 restricted stock incentive plan for Shanghai PAI Neng Energy Technology Co., Ltd, confirming that necessary approvals and authorizations have been obtained for the plan [2][6][13]. Group 1: Incentive Plan Overview - The 2025 restricted stock incentive plan involves granting a total of 4,966,000 shares, adjusted from an initial 5,000,000 shares due to the loss of qualification of three incentive targets [7][8]. - The number of incentive targets has been adjusted from 311 to 308, with the number of shares granted to the initial targets reduced from 4,000,000 to 3,973,000 [7][8]. Group 2: Approval Process - The necessary approval procedures for the incentive plan have been completed, including reviews by the board's remuneration and assessment committee and the supervisory board [3][4]. - The company has disclosed relevant resolutions on the Shanghai Stock Exchange website, ensuring transparency in the approval process [4][5]. Group 3: Granting Conditions - The granting of restricted stocks is contingent upon meeting specific conditions, including the absence of negative audit opinions on financial reports and internal controls [9][10]. - As of the report date, the company and its incentive targets have not encountered any disqualifying circumstances, confirming that the granting conditions have been met [9][10]. Group 4: Vesting Schedule - The incentive plan stipulates a vesting period of up to 48 months, with shares vesting in three phases: 40% after 12 months, 30% after 24 months, and 30% after 36 months [11][12]. - Shares cannot be transferred or used as collateral before vesting, ensuring that the incentive aligns with the company's performance [11][12]. Group 5: Financial Impact - The independent financial advisor recommends that the company account for the costs associated with the stock incentive plan in accordance with relevant accounting standards, highlighting potential dilution effects [13]. - The financial impact of the incentive plan will be assessed based on the annual audit report from the accounting firm [13].