Core Viewpoint - The report outlines the independent financial advisory opinion on the 2024 restricted stock incentive plan of Beixin Building Materials, emphasizing its compliance with relevant regulations and its potential positive impact on the company's sustainable development and shareholder interests [4][18][22]. Summary by Sections 1. Incentive Plan Overview - The incentive plan is designed to motivate key personnel, including directors and senior management, with a total of up to 12.9 million shares, representing approximately 0.764% of the company's total share capital [5][20]. - The plan includes a performance assessment mechanism based on company and individual performance metrics to determine the release of stock restrictions [13][25]. 2. Eligible Participants - The plan targets a maximum of 344 individuals, including directors and core personnel, who must meet specific performance criteria and cannot participate in other stock incentive plans [4][5][19]. 3. Stock Allocation and Pricing - The initial grant of restricted stock is set at 11.0275 million shares, with a grant price of 18.20 RMB per share, which is aligned with the company's stock performance prior to the announcement [12][20]. - The total stock allocation does not exceed 10% of the company's total share capital, ensuring compliance with regulatory limits [6][20]. 4. Vesting and Release Conditions - The plan stipulates a vesting period of 24 months, followed by a phased release of restrictions over the next 36 months, contingent on meeting performance targets [9][22]. - Performance targets include achieving specific net asset return rates and economic value added, benchmarked against industry peers [14][15]. 5. Compliance and Feasibility - The independent financial advisor confirms that the incentive plan adheres to relevant laws and regulations, ensuring it does not harm the interests of the company or its shareholders [17][18][22]. - The plan's structure is designed to align the interests of management with those of shareholders, promoting long-term company growth [18][24]. 6. Financial Implications - The financial advisor notes that the implementation of the incentive plan is expected to have a positive impact on the company's operational sustainability and shareholder equity, linking management performance to shareholder value [24][25].
北新建材: 上海荣正企业咨询服务(集团)股份有限公司关于北新集团建材股份有限公司2024年限制性股票激励计划(草案修订稿)之独立财务顾问报告