Balance Medical(SH:688198) Zheng Quan Zhi Xing·2025-06-13 09:42Core Viewpoint - The legal opinion letter from Shanghai Junlan Law Firm confirms that Beijing Bairen Medical Technology Co., Ltd.'s stock incentive plan adjustments, including vesting, cancellation, and price adjustments, comply with relevant regulations and have received necessary approvals [1][19]. Group 1: Approval and Authorization - The board of directors approved the proposals related to the 2020 Restricted Stock Incentive Plan, including the fifth vesting period for the initial grant and the third vesting period for reserved grants [4][5]. - The necessary approvals and authorizations for the vesting, cancellation, and adjustment have been obtained as of the date of the legal opinion letter [4][19]. Group 2: Vesting, Cancellation, and Adjustment Details - The fifth vesting period for the initial grant is set from July 17, 2025, to July 16, 2026, while the third vesting period for reserved grants is from July 15, 2025, to July 14, 2026 [6][18]. - A total of 65 incentive objects are eligible for the fifth vesting period, with 57 rated as A, allowing for 100% vesting [9][13]. - The company will cancel 0.7504 million shares of unvested restricted stock due to two incentive objects leaving the company [12][16]. - The adjusted grant price for the incentive plan is set at 15.11 yuan per share after accounting for cash dividends [17][19]. Group 3: Performance Assessment - The company's 2024 revenue target is set at 439 million yuan, with a trigger value for performance assessment [8][10]. - The company achieved a revenue of 370.6383 million yuan in 2023, reaching 88.25% of the target value [10][14]. - The performance assessment for the incentive objects will determine the actual number of shares vested based on company and individual performance metrics [15][16]. Group 4: Information Disclosure - The company is required to disclose relevant information regarding the incentive plan adjustments in accordance with regulatory requirements [18][19]. - The legal opinion confirms that the company has fulfilled its current information disclosure obligations and will continue to do so [19].