Baosteelpackage(SH:601968) Zheng Quan Zhi Xing·2025-08-27 09:20Core Viewpoint - The legal opinion letter issued by Fangda Partners confirms the necessary approvals and compliance with regulations for the cancellation of 9.21 million stock options under the 2021 stock option incentive plan of Baosteel Packaging due to unmet performance targets [1][6][8] Group 1: Legal Framework and Compliance - The legal opinion is based on various Chinese laws and regulations, including the Securities Law and the Management Measures for Equity Incentives of Listed Companies [2][4] - The law firm conducted a thorough review of the company's charter, the stock option incentive plan draft, and other relevant documents to ensure compliance [2][3] Group 2: Cancellation Details - The cancellation of stock options was approved by the board of directors and is in line with the provisions of the incentive plan, as the performance targets for the third exercise period were not met [5][7] - The specific performance targets included a net asset cash return rate of no less than 23% and a compound growth rate of non-recurring profit of no less than 16.3% compared to 2020 [7][8] Group 3: Conclusion and Next Steps - The law firm concludes that the cancellation of the stock options has been properly authorized and complies with all relevant regulations, and the company must proceed with the legal procedures for the cancellation [8]