HNSS(SZ:002320) Zheng Quan Zhi Xing·2025-06-20 12:28Core Viewpoint - The company has announced that the conditions for the first exercise period of the stock option incentive plan have been met, allowing eligible participants to exercise their options starting from May 30, 2025 [1][5][21]. Summary by Sections Incentive Plan Approval Process - The company held several board and supervisory meetings to approve the stock option incentive plan and its related documents, including the management methods and authorization for the board to handle related matters [1][2][4]. - The State-owned Assets Supervision and Administration Commission approved the implementation of the stock option incentive plan on March 29, 2023 [2]. - The company publicly announced the list of incentive objects from May 12 to May 21, 2023, with no objections received during the public notice period [3]. Conditions for First Exercise Period - The first exercise period for the stock options is set from May 30, 2025, to May 29, 2026, with a total of 33% of the granted options eligible for exercise during this period [5][6]. - The exercise conditions include the company not having any negative audit opinions or failing to meet financial reporting standards, and the performance metrics must be achieved [6][11]. Adjustments and Impact - The exercise price of the stock options has been adjusted from 5.32 yuan to 5.119 yuan per share due to dividend distribution [12]. - The number of incentive objects has been reduced from 97 to 94 due to retirements and resignations, resulting in a total of 21,750,000 options available for exercise [12][19]. - The company expects that the exercise of 7,177,500 options will increase its net assets by approximately 36.74 million yuan, impacting the earnings per share and return on equity slightly [19]. Exercise Arrangement - The stock options will be sourced from the company's A-share ordinary stock issued to the incentive objects [12]. - The exercise will be conducted autonomously by the eligible participants during the specified exercise period [17][21]. Legal and Compliance - The legal opinion confirms that all necessary approvals and authorizations for the incentive plan have been obtained, and the adjustments made comply with relevant regulations [21][22].