Hangzhou Alltest Biotech (SH:688606) Zheng Quan Zhi Xing·2025-08-08 16:24Core Viewpoint - The legal opinion letter addresses the adjustments to the grant price, the achievement of vesting conditions for the first grant's third vesting period, and the cancellation of certain restricted stocks related to Hangzhou Aotai Biotechnology Co., Ltd.'s 2022 restricted stock incentive plan [1][4][23] Summary by Relevant Sections Legal Framework and Compliance - The law firm conducted its review based on the Company Law, Securities Law, and relevant regulations, ensuring that all documents provided by the company were authentic, accurate, and complete [2][3][4] - The law firm confirmed that the legal opinions provided are based solely on current Chinese laws and do not extend to any foreign laws [4][5] Incentive Plan Adjustments - The grant price for the incentive plan was adjusted from 51.00 CNY per share to 28.0067 CNY per share, and the number of shares granted was increased from 770,000 to 1,132,516 shares [10][12] - The adjustments were deemed to comply with the relevant regulations and did not harm the interests of the company or its shareholders [10][14] Vesting Conditions - The first grant's third vesting period and the reserved grant's second vesting period have been confirmed to meet the necessary conditions, allowing 94 eligible participants to vest a total of 409,472 shares, while 18 reserved participants can vest 29,418 shares [15][22] - The vesting conditions were verified against the company's performance metrics, which included revenue and product registration targets [21][22] Cancellation of Restricted Stocks - The company plans to cancel a total of 6,177 shares of restricted stock that were granted to three participants who left the company, in accordance with the incentive plan's provisions [22][23] - The cancellation process was confirmed to be compliant with the relevant regulations and did not adversely affect the interests of the company or its shareholders [23]