KinLong(SZ:002791) Zheng Quan Zhi Xing·2025-06-16 12:27Core Viewpoint - The announcement details the cancellation of stock options under the 2021 stock option incentive plan due to unmet performance conditions for the fourth exercise period, affecting a total of 104,363.2 options, which is approximately 0.29% of the company's total share capital [4][5]. Group 1: Background and Approval Process - The company held multiple meetings to approve the 2021 stock option incentive plan, including the initial draft and management methods, with independent directors providing opinions [1][2]. - The plan was publicly announced and no objections were raised during the internal disclosure period [2][3]. - The first grant of stock options was completed on June 18, 2021, with 1,697 individuals receiving a total of 5.434 million options [3]. Group 2: Cancellation Details - The cancellation of stock options was due to the company not meeting the performance target of a 160% revenue growth based on 2020 figures for the year 2024 [4]. - A total of 99,066.4 options were canceled due to unmet performance conditions, and an additional 5,296.8 options were canceled as 75 individuals left the company [4]. Group 3: Impact and Opinions - The cancellation of stock options will not significantly impact the company's financial status or operational results, and the management team will continue to fulfill their responsibilities [4][5]. - The supervisory board and legal advisors confirmed that the cancellation process complied with relevant regulations and did not harm the interests of the company or its shareholders [5].