CBGF(SZ:002478) Zheng Quan Zhi Xing·2025-08-21 11:18Core Viewpoint - Jiangsu Changbao Steel Pipe Co., Ltd. has announced the achievement of the unlocking conditions for the second unlocking period of its employee stock ownership plan, allowing for the release of 2,274,000 shares, which accounts for 0.2524% of the company's total share capital [1][4]. Summary by Sections Employee Stock Ownership Plan Overview - The company held meetings on July 6 and July 24, 2023, where the board and shareholders approved the implementation of the 2023 employee stock ownership plan [1]. - The plan was authorized by the shareholders to allow the board to handle related matters [1]. Achievement of Unlocking Conditions - The performance assessment targets for the second unlocking period were set at a cumulative net profit of no less than 1.02 billion yuan (approximately 10.20 billion) or cumulative revenue of no less than 13.846 billion yuan (approximately 138.46 billion) for the years 2023-2024 [2][3]. - The company reported a net profit of 1,417,244,146.29 yuan for the year, confirming that the performance targets were met [3]. Personal Performance Assessment - Following the company-level performance assessment, individual performance assessments were conducted, with all participants achieving an "A" rating, resulting in a personal unlocking coefficient of 100% for the second unlocking period [4]. - The unlocking ratio for this period is set at 30% of the total shares from the first transfer, leading to the release of 2,274,000 shares [4]. Subsequent Arrangements - The management committee will handle the rights associated with the employee stock ownership plan according to the management regulations [4]. Legal Opinion - Jiangsu Boai Star (Nanjing) Law Firm confirmed that the unlocking has received the necessary approvals and complies with relevant laws and regulations [5].