Zheng Quan Zhi Xing·2025-08-21 16:58Core Viewpoint - The legal opinion from Zhonglun Law Firm addresses the conditions for the third vesting period of the restricted stock incentive plan of Kanglong Chemical (Beijing) New Drug Technology Co., Ltd., indicating that the conditions have been met but the stocks will not be listed for trading at this time [1][12]. Summary by Sections Legal Opinion Overview - The legal opinion is based on the review of the 2022 A-share restricted stock incentive plan and related documents, confirming compliance with relevant laws and regulations [4][7]. Approval and Authorization - The adjustments, vesting, and cancellation of certain restricted stocks have been approved by the company's board and independent directors, ensuring compliance with the management regulations [6][8]. Vesting Conditions - The third vesting period for the restricted stocks is defined as starting from the first trading day after 36 months from the grant date, which was July 28, 2022, and will last until the last trading day within 48 months [8][11]. - The conditions for vesting have been met, including no adverse audit opinions and the fulfillment of performance targets [9][10]. Performance Metrics - The company’s revenue for 2024 is projected to be approximately 12.28 billion, representing a growth of at least 60% compared to 2021's revenue of about 7.44 billion [9][10]. Cancellation of Restricted Stocks - A total of 44,104 shares of restricted stock granted to 10 individuals who left the company have been declared void, in accordance with the incentive plan [11][12]. Conclusion - The legal opinion concludes that all necessary approvals have been obtained, the third vesting period conditions have been satisfied, and the actions taken are in compliance with applicable laws and regulations [12].