QINGDAO SENTURY TIRE CO.(SZ:002984) Zheng Quan Zhi Xing·2025-07-18 16:23Core Viewpoint - The legal opinion from Deheng Shanghai Law Firm outlines the adjustments to the stock option incentive plan of Qingdao Senqilin Tire Co., Ltd, including changes in exercise price, the granting of the third exercise period, and the cancellation of certain stock options due to unmet performance conditions [1][2][5]. Summary by Sections Approval and Authorization - The company has completed necessary approvals and authorizations for the stock option incentive plan as of the date of the legal opinion, including board meetings and shareholder approvals [6][8][12]. Cancellation of Stock Options - A total of 3,621,570 stock options are to be canceled due to various reasons, including unmet performance targets and the departure of certain incentive targets [15][16][24]. Adjustment of Exercise Price - The exercise price has been adjusted from 16.97 CNY to 16.76 CNY due to the company's profit distribution plan, with the final adjusted exercise price set at 16.47 CNY per share [10][17][25]. Conditions for Exercise - The conditions for exercising the stock options have been partially met, with 265 eligible participants able to exercise a total of 887,905 options at the adjusted price of 16.47 CNY [24][21][25]. Performance Metrics - The performance metrics for the stock options include a requirement for the company's revenue growth rate to be at least 100% compared to 2021, and a net profit margin of at least 15% for the year 2024 [21][14][19].