Cathay Biotech (SH:688065) Zheng Quan Zhi Xing·2025-08-15 14:10Core Viewpoint - The legal opinion letter from Shanghai Jintiancheng Law Firm confirms that the adjustments to the 2022 restricted stock incentive plan and the cancellation of certain unvested restricted stocks have obtained the necessary authorizations and approvals, complying with relevant regulations [1][10]. Group 1: Authorization and Approval - The company has received necessary authorizations for the 2022 restricted stock incentive plan through various resolutions, including those from the independent directors and the supervisory board [3][5]. - The supervisory board has verified and issued opinions on the relevant matters of the 2022 incentive plan [4][5]. Group 2: Adjustment Details - The adjustment to the grant price of the restricted stock was necessitated by a cash dividend distribution of 4.00 yuan per 10 shares, which has been implemented [6][7]. - The adjusted grant price for the restricted stock is calculated to be 56.05 yuan per share after accounting for the dividend [7][8]. Group 3: Cancellation of Restricted Stocks - The company must cancel 69.881 million shares of unvested restricted stocks due to not meeting the performance conditions set for the third vesting period and the second vesting period of the reserved grants [8][9]. - The performance conditions required a revenue growth rate of at least 186% and a net profit growth rate of at least 186% for the first grant, and 107% for the reserved grant, which were not met [8][9].