Cathay Biotech (SH:688065) Zheng Quan Zhi Xing·2025-08-15 14:10Core Viewpoint - The company has announced the cancellation of certain unvested restricted stock from the 2020 incentive plan due to unmet performance criteria, which will not significantly impact its financial status or operational stability [1][8]. Group 1: Announcement Details - The board of directors has approved the proposal to cancel unvested restricted stock from the 2020 incentive plan [1][6]. - The company has followed the necessary decision-making procedures and disclosed relevant information regarding the incentive plan [1][2]. - The independent directors have provided their opinions on the related proposals [2][4]. Group 2: Performance Criteria - The performance targets for the fourth vesting period and the third reserved grant period required a revenue growth rate of at least 186% and a net profit growth rate of at least 186% for full vesting [6][7]. - The company's 2024 revenue was reported at 2,957.91 million, reflecting a 97.56% increase compared to 2020, while the net profit was 483.89 million, showing a 5.62% increase [7]. Group 3: Impact of Cancellation - The cancellation of the unvested restricted stock will not have a significant impact on the company's financial condition or operational performance [8]. - The cancellation marks the conclusion of the 2020 restricted stock incentive plan [8]. Group 4: Compliance and Legal Opinions - The cancellation of the unvested restricted stock complies with relevant laws and regulations, ensuring no harm to the company or shareholders [8]. - Legal opinions confirm that the necessary authorizations and approvals for the cancellation have been obtained [8].