Guangzhou Wahlap Technology (SZ:301011) Zheng Quan Zhi Xing·2025-08-27 16:18Core Viewpoint - The legal opinion letter from King & Wood Mallesons (Guangzhou) Law Firm confirms that Guangzhou Huali Technology Co., Ltd. has met the necessary conditions for the first exercise period of stock options and the first vesting period of restricted stock under its 2024 incentive plan [1][4][13]. Group 1: Approval and Authorization - On September 20, 2024, the company held its second extraordinary general meeting of shareholders, which approved the incentive plan and authorized the board to review and confirm the exercise and vesting qualifications of the incentive objects [4][5]. - The third remuneration and assessment committee meeting on August 15, 2025, approved the achievement of the exercise conditions for stock options and the vesting conditions for restricted stock [5][6]. Group 2: Conditions for Exercise and Vesting - The first exercise period for stock options is defined as the period from the first trading day after 12 months from the grant date to the last trading day within 24 months from the grant date, with the grant date set for September 23, 2024 [6][9]. - The company has confirmed that the exercise conditions for the first exercise period of stock options and the vesting conditions for the first vesting period of restricted stock have been met [6][13]. Group 3: Performance Metrics - The performance metrics for the first exercise period require a net profit growth rate of at least 25% compared to the previous year, with the actual growth rate reported at 62.93%, thus meeting the company's performance assessment requirements [11][12]. - Individual performance assessments categorize results into four levels: "Excellent," "Good," "Qualified," and "Unqualified," with the corresponding scores determining the actual number of stock options exercised [11][12].