Asiainfo Security(SH:688225) Zheng Quan Zhi Xing·2025-05-30 12:18Core Viewpoint - The legal opinion letter from Han Kun Law Offices addresses the failure to meet the vesting conditions for the first vesting period of the 2024 Restricted Stock Incentive Plan of AsiaInfo Security Technology Co., Ltd, resulting in the cancellation of certain restricted stocks [1][12]. Group 1: Approval and Authorization of Cancellation - On April 26, 2024, the company's board of directors approved several resolutions related to the 2024 Restricted Stock Incentive Plan, including the plan's draft and management measures [4]. - The supervisory board also reviewed and approved the relevant resolutions on the same day [5]. - The company announced the solicitation of voting rights from shareholders for the upcoming annual general meeting on May 1, 2024 [6]. Group 2: Specifics of the Cancellation - The company did not meet the performance assessment requirements for the first vesting period, with a reported revenue of 3.595 billion yuan for 2024, which did not meet the required growth rate [9][11]. - Additionally, 30 incentive recipients had left the company, leading to the cancellation of 1.085 million shares of restricted stock that had not yet vested [11]. - In total, 3.22146 million shares of restricted stock granted in the first vesting period will be rendered invalid due to these reasons [11]. Group 3: Conclusion - The legal opinion concludes that the cancellation has received the necessary approvals and complies with relevant regulations, including the Management Measures for Equity Incentives and the Shanghai Stock Exchange's rules [12].