JinGuan Electric (SH:688517) Zheng Quan Zhi Xing·2025-08-21 16:46Core Viewpoint - The legal opinion letter addresses the adjustments to the grant price, the third vesting period of the initial grant, and the conditions for the second vesting period of the reserved grants for the 2022 restricted stock incentive plan of Jinguang Electric Co., Ltd. [1][2] Summary by Sections Legal Framework - The legal opinion is based on various laws and regulations, including the Company Law, Securities Law, and relevant self-regulatory rules [2][4]. Approval and Authorization - The necessary approvals and authorizations for the adjustments, vesting, and cancellations have been obtained through the company's 2022 extraordinary general meeting and board meetings, with related documents verified [9][10]. Adjustment Details - The adjustment of the grant price is due to capital changes, with the new grant price set at 6.82 yuan per share after accounting for a cash dividend of 0.55 yuan per share [10][14]. Vesting Conditions - The initial grant's third vesting period and the reserved grant's second vesting period have been reached, with specific performance conditions outlined for the 2024 fiscal year [13][15]. Performance Targets - The performance targets for the 2024 fiscal year include achieving either a net profit of no less than 72.5 million yuan or a revenue threshold of 639 million yuan [14][15]. Cancellations - The company will cancel the unvested restricted stocks of five individuals who have left the company, in accordance with the incentive plan [15][16]. Conclusion - The legal opinion concludes that all actions taken regarding the incentive plan comply with applicable laws and regulations, and the vesting conditions have been met [16].