NWM(SH:603700) Zheng Quan Zhi Xing·2025-08-29 16:52Core Viewpoint - The legal opinion letter addresses the adjustments to the 2024 employee stock ownership plan of Ningbo Water Meter (Group) Co., Ltd., confirming that the adjustments comply with relevant laws and regulations [1][11]. Group 1: Legal Framework and Compliance - The legal opinion is based on various laws including the Company Law, Securities Law, and specific guidelines for employee stock ownership plans [2][4]. - The law firm conducted thorough verification of documents provided by the company, ensuring their authenticity and completeness [3][4]. - The adjustments to the employee stock ownership plan have received necessary approvals and are in line with legal requirements [7][12]. Group 2: Adjustments to the Employee Stock Ownership Plan - The company plans to adjust the performance assessment criteria for the employee stock ownership plan, specifically regarding the handling of equity in cases where performance targets are not met [7][11]. - The performance targets for unlocking stock rights are set at a minimum revenue growth rate of 8% for 2024 and 13% for 2025, based on the average revenue of 2022 and 2023 [8][10]. - The adjustments also include changes in the management structure of the employee stock ownership plan, such as the cancellation of the supervisory board's role and the delegation of responsibilities to the remuneration and assessment committee [10][11].