Sungrow Power Supply(SZ:300274) Zheng Quan Zhi Xing·2025-08-25 17:05Core Viewpoint - The company has successfully achieved the vesting conditions for the first vesting period of the reserved portion of the 2023 restricted stock incentive plan, allowing for the vesting of 383,250 shares to 70 eligible participants [1][12][15]. Summary by Sections Incentive Plan Overview - The 2023 restricted stock incentive plan involves granting a total of 11.5 million shares, with 10.375 million shares for the initial grant and 1.125 million shares reserved for future grants [2][3]. - The grant price for the restricted stock is set at 43.22 yuan per share, which will be adjusted to 29.10 yuan per share due to capital adjustments [2][14]. Vesting Conditions - The vesting schedule includes four periods, with 25% of the shares vesting at the end of each 12-month period following the grant date [3][4]. - The first vesting period is from the first trading day after 12 months to the last trading day of the 24th month [4][15]. Performance Assessment - The performance targets for the first vesting period require a revenue increase of at least 80% in 2024 compared to 2022, or a net profit increase of at least 120% [5][17]. - Similar performance targets are set for subsequent vesting periods, with increasing thresholds for revenue and net profit growth [6][7]. Changes in Eligible Participants - The number of eligible participants for the first vesting period has decreased from 518 to 488 due to resignations and forfeitures [13]. - For the reserved portion, the number of eligible participants has been adjusted from 73 to 70 due to similar reasons [13][15]. Approval and Compliance - The board of directors and the supervisory board have approved the vesting conditions and confirmed compliance with relevant regulations [11][18]. - Legal and financial advisors have provided opinions affirming that the vesting conditions have been met and that the plan complies with applicable laws [19][20].