Shang Hai Zheng Quan Bao·2025-08-28 09:07Core Viewpoint - The company announced the cancellation of stock options for one incentive recipient, totaling 34,650 options, which represents 0.0146% of the company's total share capital [1][12][14]. Summary by Sections Announcement of Stock Option Cancellation - The cancellation involves one incentive recipient whose stock options were not exercised due to their departure from the company [12][14]. - The decision was made during the 28th meeting of the sixth board of directors and the 22nd meeting of the sixth supervisory board held on August 27, 2025 [1][12]. Approval Process for the Incentive Plan - The incentive plan underwent several approval steps, including meetings on June 28, June 29, July 17, and August 3, 2023, where various related proposals were approved [2][3][4][25]. - The board was authorized to determine the grant date and to grant rights to eligible recipients [3][4][25]. Details of the Incentive Plan - The plan included the granting of a total of 1,677,300 options, with 595,100 stock options granted at an exercise price of 12.43 yuan per option and 1,082,200 restricted shares at a price of 7.77 yuan per share [4][5][26]. - The total share capital increased from 236,000,000 shares to 237,082,200 shares following the initial grant [5][27]. Impact of the Cancellation - The cancellation of stock options will not materially affect the company's financial status or operational results [14][15]. - The supervisory board confirmed that the cancellation process complied with relevant regulations and did not harm the interests of shareholders [15][16]. Legal Opinions and Compliance - Legal opinions from the law firm confirmed that the cancellation of stock options met all necessary legal requirements and was authorized appropriately [16][41]. - The independent financial advisor also affirmed that the cancellation did not harm the interests of the company or its shareholders [42].