Huaqin Technology (SH:603296) Zheng Quan Zhi Xing·2025-08-22 16:24Core Viewpoint - The legal opinion letter discusses the conditions for the first release of restrictions on the stock options of Huqin Technology Co., Ltd., the repurchase and cancellation of certain restricted stocks, and the adjustment of repurchase prices as part of the company's 2023 stock incentive plan [1][3]. Summary by Sections Approval and Authorization of the Release of Restrictions - The board and supervisory committee meetings held on December 12, 2023, and subsequent meetings approved the relevant proposals regarding the stock incentive plan [3]. - The first grant of the incentive object list was publicly disclosed on December 13, 2023, and internal disclosure occurred on December 19, 2023 [3]. - The first extraordinary general meeting of shareholders in 2024 approved the proposals related to the stock incentive plan [3]. - The necessary authorizations and approvals for the release of restrictions, repurchase, and adjustments have been obtained, complying with relevant regulations [3][6]. Specifics of the Release of Restrictions - The first release period for the reserved grant of restricted stocks is from August 20, 2024, to August 20, 2025 [5]. - The conditions for the release of restrictions have been met, including no adverse audit reports and the achievement of performance targets [5][6]. - A total of 29 out of 31 reserved grant incentive objects meet the release conditions, with 187,881 shares eligible for release, accounting for 0.0185% of the total share capital [6]. Details of the Repurchase and Cancellation - The company decided to repurchase and cancel a total of 22,236 shares due to two incentive objects leaving the company and four others not meeting performance requirements [6][7]. - The adjusted repurchase price for the restricted stocks is set at 28.05 yuan per share, following the implementation of the 2024 profit distribution plan [7][8]. - The total payment for the repurchase is confirmed by the company, and the repurchase aligns with relevant regulations [7][8]. Adjustments to the Repurchase Price - The repurchase price adjustment is based on the profit distribution plan, ensuring compliance with the incentive plan regulations [8]. - The formula for adjusting the repurchase price considers the dividend per share, ensuring the adjusted price remains above 1 yuan [8]. Conclusion - The legal opinion confirms that all actions taken regarding the release of restrictions, repurchase, and adjustments comply with the relevant laws and regulations [8].