Yinchuan Weili Transmission Technology (SZ:300904) Zheng Quan Zhi Xing·2025-07-17 12:16Core Viewpoint - The legal opinion from Beijing Zhonglun Law Firm confirms that Yinchuan Weili Transmission Technology Co., Ltd. has properly followed the necessary procedures for the cancellation of unvested restricted stock awards due to certain conditions not being met [1][5][7]. Group 1: Approval and Authorization - The company held meetings on July 2, 2024, and July 18, 2024, where it approved the 2024 Restricted Stock Incentive Plan and authorized the board to handle related matters [2][3][4]. - The company publicly disclosed the names and positions of the incentive recipients from July 3 to July 12, 2024, with no objections raised during the public comment period [3][4]. Group 2: Cancellation of Restricted Stock - A total of 64,410 shares of restricted stock were canceled due to eight incentive recipients leaving the company [5][6]. - An additional 94,228 shares were canceled because the company did not meet the performance targets set for the first vesting period, as indicated in the 2024 annual audit reports [6][7]. Group 3: Compliance with Regulations - The cancellation of the restricted stock aligns with the provisions of the Company Law, Securities Law, and the Management Measures for Incentive Plans, confirming that the company has adhered to all relevant legal and regulatory requirements [2][5][7].