ECT(SZ:300679) Zheng Quan Zhi Xing·2025-06-26 16:51Core Viewpoint - The company has announced the achievement of vesting conditions for the second category of restricted stock under its 2022 incentive plan, allowing for the vesting of 973,000 shares at an adjusted grant price of 25.24 yuan per share [1][17]. Summary by Sections 1. Overview of the 2022 Restricted Stock Incentive Plan - The company held a shareholder meeting on October 17, 2023, approving the incentive plan which includes two categories of restricted stock [2]. - The grant price for the second category of restricted stock is set at 26.61 yuan per share, with adjustments possible due to corporate actions [2][3]. 2. Vesting Arrangements - The vesting schedule for the first grant of the second category of restricted stock includes three vesting periods: 30% after 12 months, 40% after 24 months, and 30% after 36 months from the grant date [3][4]. - For the reserved grants, the vesting conditions are similar, with adjustments based on the timing of the grant [4]. 3. Performance Assessment Criteria - The performance assessment for vesting includes annual targets for revenue growth and net profit growth from 2022 to 2024 [5][20]. - Specific targets include a revenue growth rate of 10% for 2022, 20% for 2023, and 20% for 2024, with corresponding net profit growth rates [5][20]. 4. Approval Process - The company has followed a structured approval process, including board meetings and shareholder approvals, to implement the incentive plan [6][8][9]. - Legal opinions and independent assessments were obtained to ensure compliance with regulations [7][8]. 5. Current Vesting Status - As of the latest board meeting, 201 eligible participants have met the vesting conditions, with a total of 1,035,300 shares available for vesting [17][27]. - The breakdown includes 978,300 shares for the first grant and 57,000 shares for reserved grants [17][26]. 6. Financial Impact - The company will account for the fair value of the vested shares in accordance with accounting standards, impacting its financial statements [28].