CNANO(SH:688116) Zheng Quan Zhi Xing·2025-08-29 10:24Core Viewpoint - The legal opinion letter from Beijing Zhonglun Law Firm addresses the adjustments to the grant price, the achievement of the vesting conditions for the third vesting period of the 2022 Restricted Stock Incentive Plan, and the cancellation of certain unvested restricted stocks for Jiangsu Tiannai Technology Co., Ltd. [1][23] Summary by Sections Grant Price Adjustment - The grant price for the restricted stocks under the 2022 incentive plan has been adjusted from 23.24 CNY per share to approximately 23.09 CNY per share due to a cash dividend distribution plan approved at the 2024 annual general meeting [13][15]. - The adjustment method follows the formula: P = P0 - V, where P0 is the original grant price and V is the cash dividend per share [15]. Vesting Conditions Achievement - The third vesting period for the first grant of restricted stocks is set from August 4, 2025, to July 31, 2026 [16]. - The vesting conditions include the absence of negative audit opinions and the fulfillment of performance targets related to revenue growth and sales from overseas brand customers [19][23]. - The company achieved a revenue of approximately 1.45 billion CNY for 2024, reflecting a 9.71% increase compared to 2021, and a significant increase of 829.07% in sales from overseas brand customers [19]. Cancellation of Restricted Stocks - A total of 30,592 shares of restricted stocks that were granted but not vested will be canceled according to the provisions of the 2022 incentive plan [23]. - The cancellation is in compliance with the relevant regulations and the company's internal policies [23].