Shijiazhuang Shangtai Technology (SZ:001301) Zheng Quan Zhi Xing·2025-07-22 16:16Core Viewpoint - The legal opinion letter from Beijing Zhonglun (Shenzhen) Law Firm confirms that Shijiazhuang Shangtai Technology Co., Ltd. has met the necessary conditions for the first unlock period of its 2023 restricted stock incentive plan and outlines the details regarding the repurchase and cancellation of certain restricted stocks [1][2][18]. Group 1: Unlock Conditions - The first unlock period for the restricted stocks is defined as starting from the first trading day after 12 months from the completion of the grant registration, lasting until the last trading day within 24 months from the grant registration date, which is set for July 18, 2024 [9][10]. - The conditions for unlocking include the company's performance metrics, such as a net profit increase of no less than 25% compared to 2023 or a sales volume increase of no less than 25% for negative electrode materials [10][12]. - As of the date of the legal opinion, the company has not encountered any disqualifying events that would prevent the unlocking of the restricted stocks [11][12]. Group 2: Repurchase and Cancellation - The repurchase and cancellation of restricted stocks are triggered by the departure of one incentive object, leading to the decision to repurchase 35,000 shares, which represents a small fraction of the total share capital [14][15]. - The repurchase price is set to be the grant price plus the interest from the People's Bank of China for the same period, with adjustments made for any corporate actions affecting the stock price [15][17]. - The repurchase and cancellation process requires approval from the company's shareholders and must comply with relevant regulations from the China Securities Regulatory Commission and the Shenzhen Stock Exchange [18].