Red Avenue New Materials(SH:603650) Zheng Quan Zhi Xing·2025-07-11 10:12Summary of Key Points Core Viewpoint The announcement details the first unlock period of the reserved grant under the 2023 Restricted Stock Incentive Plan of Tongcheng New Materials Group Co., Ltd, allowing 113,500 shares to be listed and circulated, which represents approximately 0.02% of the company's total share capital. The unlock date is set for July 17, 2025 [1][11]. Group 1: Incentive Plan Approval and Implementation - The incentive plan has undergone necessary decision-making procedures, including approval from the board and independent directors [2][3]. - The plan includes a total of 9 eligible participants who have met the conditions for unlocking their shares [11]. - The first grant date for the incentive plan was September 13, 2023, with 4.804 million shares granted at a price of 14.88 yuan per share [3][4]. Group 2: Unlock Conditions and Performance Targets - The unlock conditions require the company to meet specific performance targets, including a revenue growth rate of at least 20% and a net profit growth rate of at least 30.81% for the year 2024 [9][10]. - The individual performance assessment of the participants will also influence the unlock ratio, with a "qualified" rating allowing full unlock [10][11]. Group 3: Share Structure Changes - Following the unlock, the company's share structure will change, with the number of restricted shares decreasing by 113,500 and the number of unrestricted shares increasing by the same amount [11][12]. - The total share capital of the company remains unchanged at 598,962,122 shares post-unlock [12][13].