KAIFA(SZ:000021) Zheng Quan Zhi Xing·2025-06-13 13:29Core Viewpoint - Shenzhen Great Wall Development Technology Co., Ltd. has announced the achievement of the first exercise condition for the stock option incentive plan initiated in 2022, allowing eligible participants to exercise their options [1][2][7]. Summary by Sections Incentive Plan Approval and Conditions - The company held meetings on June 13, 2025, where the board approved the achievement of the first exercise condition for the stock option incentive plan [1][2]. - The plan allows for the exercise of 11.476 million stock options at a price of 10.94 yuan per share [1][13]. Performance Metrics - The company's net asset cash return rate (EOE) for 2023 was 13.52%, exceeding the performance assessment requirement of 13.00% [10][11]. - The net profit compound growth rate for 2023 was also above the required 10.00% [10][11]. Eligible Participants and Options - A total of 369 individuals are eligible to exercise their options, with the total number of options available for exercise being 11.476 million, which represents 0.74% of the company's total share capital [13][19]. - The exercise of options is subject to individual performance assessments, with 363 individuals meeting the performance criteria [12][19]. Adjustments and Changes - The initial number of participants was adjusted from 401 to 396 due to five employees leaving the company [5][14]. - The total number of options granted was reduced from 46.8176 million to 46.5576 million, with the first grant quantity adjusted from 38.12 million to 37.86 million [5][14]. Financial Impact and Management - The exercise of options is not expected to significantly impact the company's financial status or operational results [17][18]. - Funds raised from the exercise will be used to supplement the company's working capital [18]. Compliance and Legal Opinions - The company has obtained necessary approvals and authorizations for the exercise of options, complying with relevant regulations [20][21]. - The independent financial advisor confirmed that all conditions for the exercise of options have been met [20][21].