YANTAI TAYHO(SZ:002254) Zheng Quan Zhi Xing·2025-08-13 16:11Core Viewpoint - The company has successfully completed the first unlock period of its 2022 restricted stock incentive plan, allowing 65 eligible participants to unlock a total of 377,600 shares, which represents a portion of the company's total equity [2][10][12]. Summary by Relevant Sections 1. Incentive Plan Overview - The company implemented a restricted stock incentive plan in 2022, granting a total of 19,920,000 shares to 422 eligible participants, with the first grant date on December 6, 2022, and the second on August 17, 2023 [2][10]. - The plan aims to enhance the motivation and creativity of the core management team and key personnel, thereby improving company cohesion and achieving mutual growth [2][10]. 2. Unlock Conditions - The first unlock period conditions have been met, allowing for the release of 40% of the granted restricted stocks after a 24-month lock-up period [10][12]. - The performance assessment for unlocking shares is based on the company's net profit growth rate and return on equity, with specific targets set for the years 2023 to 2025 [12][14]. 3. Performance Metrics - The net profit growth rate for 2023 must not be less than 20% compared to the average net profit from 2019 to 2021, and the weighted average return on equity must be at least 11% [12][14]. - The company reported a net profit growth rate of -23.50% for 2023, which is below the industry average of -29.29% [12][14]. 4. Shareholder Meeting and Approvals - The company’s board and supervisory committee have approved the necessary resolutions regarding the incentive plan and the unlocking of shares [2][10][12]. - The company has also conducted public disclosures and received no objections from employees regarding the incentive plan [3][10]. 5. Changes in Share Capital - Following the unlocking of shares, the total share capital remains at 857,213,183 shares, with no changes in the overall share structure due to this event [19].