MONTNETS TECHNOLOGY(SZ:002123) Zheng Quan Zhi Xing·2025-08-13 16:23Core Viewpoint - The legal opinion letter from Grandway Law Offices confirms that DreamNet Cloud Technology Group Co., Ltd. has properly followed the necessary procedures to cancel part of its 2021 stock option incentive plan, specifically the unexercised stock options due to expiration [1][3][4]. Group 1: Approval and Authorization - The company held a shareholders' meeting on July 13, 2021, where it approved the authorization for the board of directors to handle matters related to the 2021 stock option incentive plan [3]. - The board of directors determined that stock options not exercised during the designated exercise period should be canceled, in accordance with the relevant regulations [3][4]. - A total of 5,761,552 stock options were identified as unexercised and are to be canceled as they were not exercised by the deadline [3][4]. Group 2: Specifics of the Cancellation - The cancellation of stock options is in line with the provisions of the stock option incentive management regulations and the company's incentive plan [4]. - The third exercise period for the stock options ended on July 18, 2025, and the unexercised options will be canceled as per the established rules [4]. - The company is required to disclose this cancellation in accordance with the relevant regulations and apply for the cancellation procedures with the China Securities Depository and Clearing Corporation [4]. Group 3: Conclusion - The legal opinion concludes that the company has fulfilled all necessary approval procedures for the cancellation, and the action complies with applicable laws and regulations [5].