Tongda Electric(SH:603390) Zheng Quan Zhi Xing·2025-08-11 16:16Core Viewpoint - The legal opinion letter addresses the conditions for the first release of restricted stock for Guangzhou Tongda Automotive Electric Co., Ltd., including the repurchase and cancellation of part of the restricted stock and the adjustment of the repurchase price [1][2][10]. Group 1: Approval and Authorization - The company's board approved the relevant proposals regarding the 2023 restricted stock incentive plan on September 27, 2023, and the supervisory board verified the plan [6][7]. - The company publicly announced the names and positions of the proposed incentive objects from September 28 to October 8, 2023, with no objections received [7][8]. - The second extraordinary general meeting of shareholders on October 16, 2023, approved the relevant proposals for the incentive plan [8][9]. Group 2: Release of Restrictions - The first release period for the restricted stock is set to end on February 15, 2025, which is 16 months after the grant date of October 16, 2023 [10]. - The conditions for the release of restrictions have been met, including no adverse audit opinions and the performance targets being achieved [10][11]. - A total of 78 individuals are eligible for the release of restrictions, with 758,688 shares available for release, accounting for 0.22% of the company's total share capital [12]. Group 3: Repurchase and Adjustment - The repurchase of restricted stock is due to one incentive object resigning, leading to the cancellation of 20,000 shares [13]. - The repurchase price has been adjusted to 5.38 yuan per share after accounting for cash dividends distributed [13][15]. - The funds for the repurchase will come from the company's own funds, ensuring compliance with relevant regulations [15].