MeiG(SZ:002881) Zheng Quan Zhi Xing·2025-07-10 10:11Core Viewpoint - The announcement details the successful achievement of the first exercise conditions for the stock option and restricted stock incentive plan for 2024 by Meige Intelligent Technology Co., Ltd, allowing eligible participants to exercise their stock options [1][4][10]. Summary by Sections Incentive Plan Approval Process - The company held its fourth board meeting on July 10, 2025, where it approved the first exercise conditions for the stock option incentive plan [1]. - The plan underwent multiple approvals, including a public notice period from June 1 to June 10, 2024, during which no objections were raised [2]. Exercise Conditions Achievement - The first exercise period for the stock options is set from July 1, 2024, to June 30, 2026, with 40% of the total options granted eligible for exercise [5]. - The total number of options available for exercise in this period is 631,200 [5]. - The company confirmed that it did not encounter any disqualifying events in the last fiscal year, allowing the exercise conditions to be met [5][10]. Performance Assessment - The performance targets for the first exercise period include a minimum revenue growth of 30% compared to the previous year, with the actual net profit for 2024 projected at approximately 146.69 million yuan, reflecting a growth rate of 127.39% [5][10]. - The assessment of individual performance for the 156 participants showed that all but four met the necessary criteria, allowing them to exercise their options [6]. Adjustments and Cancellations - Adjustments were made to the exercise price of the stock options from 21.10 yuan to 20.97 yuan due to a cash dividend distribution [7]. - The company plans to cancel stock options for individuals who no longer meet the eligibility criteria due to resignation, totaling 14,000 options [8]. Impact of the Exercise - The exercise of stock options is not expected to significantly alter the company's shareholding structure or listing conditions [10]. - The financial implications of the stock option exercise will be accounted for in accordance with relevant accounting standards, potentially increasing the company's capital reserves [10]. Legal Opinions and Compliance - Legal counsel confirmed that the company has obtained the necessary authorizations for the exercise of stock options, affirming compliance with the incentive plan's conditions [11].