DUN'AN ENVIRONMENTAL(SZ:002011) Zheng Quan Zhi Xing·2025-08-12 16:26Core Viewpoint - The company, Zhejiang Shun'an Artificial Environment Co., Ltd., has announced the lifting of restrictions on the first phase of its long-term incentive plan, allowing 3,073,637 restricted shares to be listed for trading on August 15, 2025, which represents 0.2885% of the total share capital [1][19]. Summary by Sections Incentive Plan Overview - A total of 334 individuals, including retirees, are eligible for the lifting of restrictions on their shares [1][19]. - The first lifting of restrictions is part of the long-term incentive plan initiated in 2023, which includes both restricted stocks and stock options [1][19]. Approval Process - The approval process for the incentive plan involved multiple meetings of the board of directors and the supervisory board, with relevant proposals submitted for review and approval [2][3][4]. - The independent directors provided their opinions on the matters related to the incentive plan, ensuring compliance with regulations [2][3]. Conditions for Lifting Restrictions - The first lifting of restrictions is contingent upon the completion of a 12-month lock-up period following the initial grant date, which was completed on February 27, 2024 [9][16]. - Specific conditions must be met for the lifting of restrictions, including the absence of negative audit opinions and compliance with legal regulations [9][10]. Performance Targets - The performance assessment for the incentive plan is based on the company's net profit, with a target of 9.29 billion yuan for 2024, representing a growth of 10% from the previous year [11][13]. - The assessment period for the incentive plan spans three years, from 2024 to 2026, with annual performance evaluations [11][13]. Changes in Share Structure - Following the lifting of restrictions, the total number of restricted shares will decrease from 149,124,377 to 146,050,740, while the number of unrestricted shares will increase correspondingly [21]. - The overall share capital remains unchanged at 1,065,436,182 shares [21]. Legal and Compliance Documentation - The company has prepared legal opinions and resolutions from the board meetings regarding the lifting of restrictions and other related matters [22].