China Tianying(SZ:000035) Zheng Quan Zhi Xing·2025-08-21 12:13Core Viewpoint - The legal opinion states that China Tianying Co., Ltd. has not met the conditions for the second exercise period of its stock option incentive plan, leading to the cancellation of stock options totaling 15.7755 million shares [3][4][6]. Group 1: Conditions for Exercise and Cancellation - The company did not achieve the performance targets for the fiscal year 2024, specifically a net profit of 838 million yuan or revenue of 9.648 billion yuan, resulting in the cancellation of 14.7555 million stock options [3][4]. - Additionally, 1.02 million stock options were canceled due to some incentive recipients leaving the company for personal reasons, totaling 15.7755 million stock options to be canceled [4][5]. Group 2: Approval and Compliance - The cancellation of stock options has received necessary approvals from the company's board and supervisory board, complying with the relevant regulations outlined in the Management Measures and the incentive plan draft [4][6]. - The legal opinion confirms that the procedures followed for the cancellation are in accordance with the applicable laws and regulations [2][6].