INLY(SH:603598) Zheng Quan Zhi Xing·2025-07-24 16:21Core Viewpoint - The legal opinion letter from Shanghai Junlan Law Firm confirms that the cancellation of stock options and the achievement of the first exercise period conditions for Gravity Media Co., Ltd. have been properly authorized and comply with relevant regulations and the company's incentive plan [1][9]. Group 1: Approval and Authorization - The board of directors and the supervisory board approved the relevant proposals regarding the 2024 restricted stock and stock option incentive plan [3][5]. - The necessary approvals and authorizations for the cancellation and exercise have been obtained, and the procedures followed are in accordance with the Management Measures and other relevant regulations [5][9]. Group 2: Cancellation and Exercise Details - One individual among the incentive recipients will leave before the first batch of stock options' waiting period ends, leading to the cancellation of 100,000 stock options that were granted but not exercised [6]. - After the cancellation, the number of incentive recipients is adjusted to 19, with a total of 2.6 million stock options granted but not exercised [6]. - The first exercise period for the granted stock options is set from August 8, 2024, to the last trading day within 24 months from the grant date, with specific performance conditions that must be met [6][8]. Group 3: Performance Conditions - The exercise conditions include the company not having any adverse audit reports and meeting specific revenue and profit targets, with the revenue target set at no less than 6.2886 billion [6][8]. - All 19 remaining incentive recipients have achieved a performance evaluation of "qualified," allowing them to exercise their options fully [7][8]. Group 4: Information Disclosure - The company is required to disclose relevant documents regarding the board and supervisory board resolutions, as well as announcements related to the cancellation and exercise of stock options [8][9]. - The company has fulfilled its current information disclosure obligations and must continue to comply with future disclosure requirements [9].