ENN-NG(SH:600803) Zheng Quan Zhi Xing·2025-08-27 09:20Core Viewpoint - The report confirms that the conditions for the fourth unlock period of the initial grant of restricted stock under the 2021 incentive plan of Xin'ao Natural Gas Co., Ltd. have been met, allowing for the release of 3 million shares, which is 0.10% of the company's total share capital [12][13][14]. Summary by Sections Section 1: Definitions - The report defines key terms related to the incentive plan, including "restricted stock," "unlock period," and "incentive objects," clarifying the roles and conditions associated with the stock grants [1]. Section 2: Approval Process - The 2021 incentive plan underwent necessary approval processes, including board meetings and shareholder meetings, with independent directors providing consent on related proposals [4][5][6]. Section 3: Conditions for Unlocking - The fourth unlock period for the restricted stock has been reached, with the unlock ratio set at 25% of the total granted shares. The initial grant's registration date was June 16, 2021, and the unlock period ended on June 15, 2024 [9][10]. Section 4: Performance Assessment - The company achieved a net profit of 5,088.79 million yuan in 2024, representing a growth rate of 130.68% compared to the 2020 baseline, thus meeting the performance criteria for unlocking the shares [11]. Section 5: Eligible Incentive Objects - A total of 29 individuals are eligible for the unlocking of 3 million shares, with specific allocations detailed for key executives and management personnel [13]. Section 6: Independent Financial Advisor's Opinion - The independent financial advisor concludes that all conditions for the unlocking of the restricted stock have been satisfied, in compliance with relevant laws and the company's incentive plan [14].