Delinhai(SH:688069) Zheng Quan Zhi Xing·2025-07-18 11:22Core Viewpoint - The independent financial advisor report on Wuxi Delinhai Environmental Technology Co., Ltd.'s 2025 Restricted Stock Incentive Plan outlines the plan's compliance with relevant laws and regulations, its feasibility, and its potential positive impact on the company's sustainable operation and shareholder equity. Group 1: Incentive Plan Overview - The incentive plan aims to grant restricted stocks to a total of 38 individuals, accounting for 2.98% of the company's total share capital of 113 million shares [5][7][29] - The plan includes key personnel such as the actual controller, Hu Mingming, who holds multiple significant roles within the company, emphasizing his critical contribution to the company's operations [5][17] - The total number of restricted stocks to be granted is 3,372,696 shares, with 2,732,059 shares for the initial grant and 640,637 shares reserved for future allocation [7][29] Group 2: Granting and Vesting Conditions - The vesting schedule includes three phases: 40% after 12 months, 30% after 24 months, and 30% after 36 months from the grant date [10][30] - The grant price for the restricted stocks is set at 11.42 RMB per share, which is approximately 50.02% of the stock's trading average on the day before the announcement [14][29] - The plan stipulates that the granting of stocks is contingent upon meeting specific performance targets, including revenue thresholds for the years 2025 to 2027 [21][35] Group 3: Compliance and Feasibility - The plan complies with the relevant regulations, including the Management Measures and Listing Rules, ensuring that the total number of stocks granted does not exceed 20% of the company's total share capital [25][29] - The independent financial advisor confirms that the plan's execution will not harm the interests of the company or its shareholders, aligning the interests of employees with those of shareholders [29][30] - The funding for the stock purchase will come solely from the participants, with no financial assistance from the company [25][26] Group 4: Impact on Company and Industry - The implementation of the incentive plan is expected to enhance the company's competitive edge in the environmental governance sector, particularly in lake and reservoir management [16][28] - The plan is designed to motivate core personnel, thereby improving the company's ability to respond to industry challenges and market fluctuations [17][28] - The company aims to leverage its expertise in ecological restoration and water management to contribute to national environmental goals, aligning with the "dual carbon" objectives [16][28]