Sunxing(SH:603978) Zheng Quan Zhi Xing·2025-06-16 12:18Core Viewpoint - The independent financial advisor report by Shenwan Hongyuan Securities evaluates the stock option incentive plan of Shenzhen New Star Light Alloy Materials Co., Ltd. for 2025, confirming its feasibility and alignment with relevant regulations [1][2][3]. Group 1: Stock Option Incentive Plan Overview - The stock option incentive plan aims to grant stock options to a total of 6 individuals, representing 0.95% of the company's total share capital [4][6]. - The plan includes a waiting period of 12 to 24 months before the options can be exercised, with a maximum validity of 36 months [8][10]. - The exercise price for the stock options is set at 13.33 RMB per share, which is based on the average trading price of the company's shares prior to the announcement [7][20]. Group 2: Performance Assessment Criteria - The performance assessment for the incentive plan is divided into company-level and individual-level evaluations, with the company-level targets based on revenue growth compared to the previous year [19][21]. - The revenue growth targets for the first assessment year (2025) are set at a minimum of 18% compared to 2024, while for the second year (2026), the target is 48% [15][19]. - Individual performance will be assessed annually, determining the proportion of options that can be exercised based on performance ratings [19][21]. Group 3: Compliance and Feasibility - The report confirms that the company meets the conditions for implementing the stock option incentive plan as outlined in the relevant regulations, with no disqualifying circumstances present [21][22]. - The plan has been structured to ensure that it does not harm the interests of the company or its shareholders, with provisions in place to terminate the plan if certain negative conditions arise [21][22]. - The independent financial advisor believes that the implementation of this incentive plan will positively impact the company's operational sustainability and shareholder equity in the long term [21].