HANGZHOU TOKA(SH:688571) Zheng Quan Zhi Xing·2025-08-21 16:28Core Points - The company has announced that the second vesting period of its 2023 restricted stock incentive plan has met the vesting conditions, allowing 404.22 million shares to vest for 118 eligible participants [1][14][15] Summary by Sections Incentive Plan Overview - The total number of shares to be granted under the incentive plan is 404.22 million, which represents 2.22% of the company's total share capital of 4,160 million shares [1][14] - The vesting arrangement includes two periods, with 50% of the shares vesting in each period [1][11] Performance Assessment Criteria - The performance assessment for the first vesting period requires either a revenue of no less than 1.2 billion yuan or a net profit of no less than 75 million yuan for the year 2023 [1][11] - For the second vesting period, the cumulative revenue must be no less than 2.5 billion yuan or the cumulative net profit must be no less than 165 million yuan over the two years from 2023 to 2024 [2][11] Vesting Conditions - The vesting conditions have been confirmed as met, with no adverse audit opinions or violations of regulations affecting the company or the participants [12][15] - The vesting price has been adjusted from 3.45 yuan to 3.10 yuan per share due to the completion of the company's annual profit distribution [1][15] Handling of Non-Vested Shares - A total of 86,300 shares will be canceled due to participants no longer qualifying for the incentive plan, including one participant who left the company and one who retired [14][15] Legal and Compliance - The board and the supervisory committee have confirmed that the vesting conditions and the handling of shares comply with relevant laws and regulations [15][20]