NANYA NEW MATERIAL(SH:688519) Zheng Quan Zhi Xing·2025-08-25 16:34Core Viewpoint - The legal opinion letter from Grandall Law Firm (Shanghai) confirms that the company has properly followed legal procedures regarding the cancellation of certain unvested restricted stocks under its 2022 incentive plan, ensuring compliance with relevant laws and regulations [1][10]. Summary by Sections Approval and Authorization of the Incentive Plan - The company has fulfilled the necessary approvals and authorizations for the implementation of the 2022 restricted stock incentive plan, including resolutions from the board and independent directors [3][4]. Stock Grant and Cancellation Details - The company announced the first grant of restricted stocks at a price of 23.2 yuan per share for 1 million shares to B-class incentive objects and 22.2 yuan per share for 526.5 million shares to A-class incentive objects [5][6]. - A total of 295.98 million shares of restricted stocks were canceled due to various reasons, including the departure of certain incentive objects and failure to meet performance targets [6][9]. Compliance with Legal Regulations - The cancellation of the restricted stocks has been deemed compliant with the Company Law, Securities Law, and relevant management regulations, ensuring no harm to the company's or shareholders' interests [8][10]. Information Disclosure Obligations - The company has conducted necessary meetings to discuss the cancellation and has committed to fulfilling its information disclosure obligations as required by law [9][10].