Yangtze Optical Electronic (SH:688143) Zheng Quan Zhi Xing·2025-08-27 10:16Core Viewpoint - The legal opinion letter issued by Hubei Qianxing Law Firm confirms that Wuhan Changying Tongguang Technology Co., Ltd. has obtained necessary approvals for its 2024 restricted stock incentive plan, including adjustments, vesting conditions, and the cancellation of certain unvested stocks [1][2][3]. Group 1: Approval and Authorization - The company has followed the required procedures for the approval of the incentive plan, including meetings of the board of directors and the supervisory board, which passed relevant resolutions [3][4][5]. - The company conducted a self-examination regarding insider trading by informed persons prior to the announcement of the incentive plan and found no violations [6][7]. Group 2: Adjustment Details - The adjustment of the grant price for the restricted stocks was made due to a cash dividend distribution of 0.05 yuan per share, resulting in a new grant price of 11.33 yuan per share [8][9]. - The adjustments comply with relevant laws and regulations, including the Company Law and the Securities Law [8][9]. Group 3: Vesting Conditions - The first vesting period for the restricted stocks is set from August 27, 2024, to August 27, 2025, with specific performance conditions that must be met for vesting to occur [9][10]. - The performance conditions include company revenue targets and individual performance assessments, with a total of 84 incentive objects identified [11][12][13]. Group 4: Cancellation of Stocks - A total of 49,019 shares were canceled due to five incentive objects leaving the company, and an additional 80,382 shares were canceled due to three incentive objects failing to meet performance criteria [16][17]. - The cancellation process has been approved by the supervisory board and complies with the relevant regulations [17]. Group 5: Conclusion - The legal opinion concludes that all adjustments, vesting, and cancellations have been conducted in accordance with applicable laws and regulations, and the company has fulfilled its disclosure obligations [18].