GigaDevice(SH:603986) Zheng Quan Zhi Xing·2025-07-22 10:19Core Viewpoint - The legal opinion letter from Beijing Zhonglun (Shenzhen) Law Firm addresses the adjustments related to the stock option and restricted stock incentive plans of Zhaoyi Innovation Technology Group Co., Ltd. for the years 2020, 2021, 2023, and 2024, confirming that necessary approvals and authorizations have been obtained for these adjustments [2][15]. Summary by Sections Legal Framework - The law firm has acted as a special legal advisor for Zhaoyi Innovation regarding the implementation of the 2020, 2021, 2023, and 2024 incentive plans, in accordance with relevant laws and regulations including the Company Law and Securities Law of the People's Republic of China [3][4]. Adjustments to Incentive Plans - The adjustments to the incentive plans are based on the company's profit distribution proposal for 2024, which includes a cash dividend of 3.40 yuan per 10 shares (tax included) without capital reserve transfers or stock bonuses [7]. - Following the adjustments, the exercise prices for the stock options and repurchase prices for restricted stocks have been set as follows: - 2020 Plan: Exercise price adjusted to 141.73 yuan/share, repurchase price to 69.659 yuan/share [7][9]. - 2021 Plan: Exercise price adjusted to 185.94 yuan/share, repurchase price to 91.96 yuan/share [9]. - 2023 Plan: Exercise price adjusted to 86.13 yuan/share [9]. - 2024 Plan: Exercise price adjusted to 58.84 yuan/share [9]. Approval and Authorization - The adjustments have been approved by the company's board of directors, in compliance with the Management Measures and the company's articles of association [15]. - The board has been authorized to make necessary adjustments to the stock option exercise prices and repurchase prices in response to events such as profit distribution and capital reserve transfers [10][13].