Shenzhen Intellifusion Technologies (SH:688343) Zheng Quan Zhi Xing·2025-06-20 11:34Core Viewpoint - The legal opinion letter from Beijing Jindu (Shenzhen) Law Firm confirms the achievement of the vesting conditions for the first vesting period of the 2023 Restricted Stock Incentive Plan of Shenzhen Yuntian Lifeng Technology Co., Ltd. and addresses the cancellation of certain unvested restricted stocks [2][10][17]. Group 1: Approval and Authorization - The company has obtained necessary approvals and authorizations for the vesting and cancellation of restricted stocks as per the relevant laws and regulations [10][17]. - The second extraordinary general meeting of shareholders on October 13, 2023, approved the relevant proposals regarding the incentive plan [6][7]. - The compensation and assessment committee of the board confirmed the achievement of vesting conditions for 187 eligible incentive objects [7][9]. Group 2: Vesting Conditions - The first vesting period for the initially granted restricted stocks is defined as the period from 18 months after the grant date to the last trading day within 30 months [11]. - The company achieved a revenue growth rate of 67.95% in 2024 compared to 2022, surpassing the required target of 60% for the vesting conditions [14]. - A total of 174 incentive objects met the performance criteria, achieving a 100% vesting ratio, while 13 did not meet the criteria, resulting in partial vesting [14][17]. Group 3: Cancellation of Restricted Stocks - A total of 173.186 million shares of restricted stocks were canceled due to 42 incentive objects leaving the company and not meeting the vesting criteria [8][15][17]. - The cancellation aligns with the provisions of the incentive plan regarding the treatment of incentive objects who no longer qualify [15][17]. - The reasons for the cancellation and the number of shares involved comply with the relevant management measures and the incentive plan [17].