Hangzhou Alltest Biotech (SH:688606) Zheng Quan Zhi Xing·2025-08-29 10:24Core Viewpoint - The report outlines the independent financial advisory opinion regarding the 2024 restricted stock incentive plan of Hangzhou Aotai Biotechnology Co., Ltd, confirming that the plan has received necessary approvals and meets regulatory requirements [1][13]. Summary by Sections Definitions - The report defines key terms related to the incentive plan, including "independent financial advisor," "restricted stock," "grant date," and "vesting conditions," among others [1][2]. Approval Procedures - The company held several meetings to approve the incentive plan, including the third board meeting on September 2, 2024, and the second extraordinary shareholders' meeting on September 18, 2024, where the plan was reviewed and approved [4][5][6]. Grant Conditions - The report specifies that the grant of restricted stock is contingent upon the company and the incentive recipients meeting certain conditions, including no adverse audit opinions and compliance with relevant laws [6][11]. Grant Details - The grant date for the restricted stock is set for August 29, 2025, with a total of 188,000 shares to be granted, representing 0.24% of the company's total share capital, at a price of 26.2993 RMB per share [7][10]. Vesting Schedule - The vesting of the restricted stock will occur in two phases: 50% after 12 months and the remaining 50% after 24 months, with specific conditions outlined for each vesting period [8][9]. Performance Assessment - The performance assessment for the incentive plan will be based on revenue and product registration targets for the years 2025 and 2026, with specific thresholds set for both domestic and FDA product registrations [11]. Financial Impact - The report notes that the implementation of the incentive plan will be accounted for in accordance with relevant accounting standards, and shareholders are advised to consider potential dilution effects [13]. Conclusion - The independent financial advisor concludes that the incentive plan has met all necessary conditions and approvals, aligning with regulatory requirements and the company's governance framework [13].