KINGSEMI(SH:688037) Zheng Quan Zhi Xing·2025-08-29 17:15Core Viewpoint - The company announced the cancellation of 35,525 unvested restricted stocks due to the departure of five incentive recipients, adjusting the total number of initial recipients from 157 to 152, while confirming that this action will not materially impact the company's financial status or operational results [1][5]. Summary by Sections 1. Decision Process and Disclosure - The company held its third board meeting on August 28, 2025, where it approved the proposal to cancel certain unvested restricted stocks as part of the 2023 restricted stock incentive plan [1]. - The independent directors provided their opinions on the incentive plan proposals, ensuring compliance with relevant regulations [2]. 2. Verification by Supervisory Board - The supervisory board convened to verify the proposals related to the 2023 restricted stock incentive plan and issued relevant verification opinions [2][3]. 3. Specifics of Stock Cancellation - The cancellation of 35,525 restricted stocks was due to five incentive recipients leaving the company, which rendered them ineligible under the plan's rules [5]. - The total number of initial incentive recipients was adjusted from 157 to 152 [5]. 4. Impact on the Company - The cancellation of these restricted stocks is not expected to have a substantial effect on the company's financial condition or operational results, nor will it affect the stability of the management team or the ongoing implementation of the stock incentive plan [5]. 5. Opinions from Compensation and Assessment Committee - The committee agreed that the cancellation of the restricted stocks complies with relevant laws and regulations, and does not harm shareholder interests [5]. 6. Legal Opinion - The legal opinion confirmed that the adjustments to the incentive plan, including the cancellation of unvested stocks, have received the necessary approvals and comply with applicable laws and regulations [5][6].