Highton Development(SH:603162) Zheng Quan Zhi Xing·2025-08-22 11:14Core Viewpoint - The legal opinion letter from Kangda Law Firm confirms that Fujian Haitong Development Co., Ltd. has complied with the necessary legal procedures for its stock incentive plans for 2023, 2024, and 2025, and that the conditions for the release of restrictions on the stock have been met [4][26]. Group 1: Legal Compliance and Procedures - The law firm has been appointed to provide legal advice on the 2023, 2024, and 2025 stock incentive plans, ensuring compliance with relevant laws and regulations [2][4]. - The 2023 stock incentive plan has undergone the required approval processes, including independent opinions from the board of directors and public disclosures [4][5]. - The company has confirmed that no objections were raised during the public notice period for the 2023 stock incentive plan [5][8]. Group 2: Stock Incentive Plan Details - The first grant under the 2023 plan involved 3.193 million shares, while the reserved grant involved 710,000 shares [6]. - The 2024 plan included the actual grant of 6.635 million stock options and 7.715 million restricted stocks [9][12]. - The 2025 plan saw the first grant of 8.795 million restricted stocks and 4.2975 million stock options [13][15]. Group 3: Repurchase and Cancellation of Shares - The company has initiated the repurchase and cancellation of shares due to the departure of certain incentive targets, with specific numbers outlined for each year [14][15][22]. - The repurchase prices for the 2023, 2024, and 2025 plans were set at 5.6162 yuan, 4.85 yuan, and 4.11 yuan per share, respectively [14][15]. - The funds for these repurchases will come from the company's own resources [14][15]. Group 4: Performance Conditions and Achievements - The conditions for the release of restrictions on the 2023 stock incentive plan have been met, with a performance target achievement rate exceeding 100% [20][22]. - The performance targets for the 2024 stock options include a revenue growth rate of at least 50% and a net profit growth rate of at least 35% [23][24]. - The company has confirmed that all necessary performance conditions for the stock options and restricted stocks have been satisfied [26].