Daqo Energy(SH:688303) Zheng Quan Zhi Xing·2025-08-26 16:35Core Viewpoint - The company announced the cancellation of a portion of the restricted stock from the 2022 incentive plan that had been granted but not yet vested, following the approval of relevant meetings and compliance with legal requirements [1][2][3]. Group 1: Decision Process and Disclosure - The company held multiple board meetings to review and approve the cancellation of the unvested restricted stocks, ensuring compliance with legal and regulatory frameworks [1][2][3]. - Independent directors provided opinions affirming that the incentive plan aligns with the company's sustainable development and does not harm the interests of shareholders [1][2][7]. Group 2: Specifics of the Canceled Stocks - A total of 5.328 million shares of restricted stock were canceled due to the failure to meet performance targets set for the third vesting period, which required a revenue growth rate of no less than 170% compared to 2021 or a production of at least 220,000 tons of polysilicon in 2024 [5][6]. - The company's 2024 revenue was reported at 741.05 million yuan, with polysilicon production at 205,100 tons, both falling short of the established targets [5]. Group 3: Impact and Opinions - The cancellation of these restricted stocks is not expected to have a significant impact on the company's operations or the stability of its core management and employees [6][7]. - The supervisory board and independent directors unanimously agreed that the cancellation complies with relevant laws and regulations and does not adversely affect the company's financial status or shareholder interests [7][8].