Core Viewpoint - The report outlines the independent financial advisory opinion on the stock option and restricted stock incentive plan proposed by Shenzhen Keri Technology Co., Ltd. for 2025, emphasizing its feasibility and alignment with regulatory requirements [2][17][26]. Summary by Sections 1. Main Content of the Incentive Plan - The incentive plan includes a total of 117.82 million stock options, accounting for approximately 0.28% of the company's total share capital at the time of announcement, with no reserved rights [3][4]. - The plan also includes a total of 58.91 million restricted stocks, which represent about 0.14% of the total share capital [4]. 2. Scope and Distribution of Incentive Objects - The incentive objects are core employees of the company, excluding directors, supervisors, senior management, and shareholders holding more than 5% of the company's shares [4][5]. - The distribution of stock options and restricted stocks is entirely allocated to 104 core employees [4][5]. 3. Pricing and Determination Methods - The exercise price for stock options is set at 12.63 RMB per share, determined based on the higher of 75% of the average trading price on the day before the announcement or the average price over the previous 60 days [5][7]. - The grant price for restricted stocks is set at 8.42 RMB per share, similarly determined based on the higher of 50% of the average trading price on the day before the announcement or the average price over the previous 60 days [7]. 4. Timeframe and Conditions - The effective period for stock options is up to 36 months from the date of grant, with a waiting period of 12 to 24 months before options can be exercised [8][9]. - The restricted stocks also have a maximum effective period of 36 months, with a waiting period of 12 to 24 months before they can be released from restrictions [9][10]. 5. Performance Assessment - The performance assessment for the incentive plan includes company-level targets for revenue and net profit for the years 2025 and 2026, with specific thresholds set for each year [12][13][23]. - Individual performance assessments will also be conducted, categorizing performance into five levels (A to E) to determine the proportion of options and stocks that can be exercised or released [24][25]. 6. Impact on Company Operations and Shareholder Rights - The implementation of the incentive plan is expected to enhance employee cohesion and management motivation, positively impacting the company's operational efficiency and intrinsic value [25][26]. - The plan is structured to ensure that it does not harm the interests of the company or its shareholders, adhering to relevant laws and regulations [26].
科瑞技术: 北京博星证券投资顾问有限公司关于深圳科瑞技术股份有限公司2025年股票期权与限制性股票激励计划(草案)的独立财务顾问报告