CTC(SH:603060) Zheng Quan Zhi Xing·2025-08-29 17:25Core Viewpoint - The legal opinion issued by Beijing Gaopeng Law Firm confirms the cancellation of stock options under the second phase stock option incentive plan of China National Inspection Testing Group Co., Ltd. due to unmet performance conditions for the third exercise period [1][9]. Summary by Sections Basic Situation of the Cancellation - The performance assessment conditions for the third exercise period require a compound annual growth rate of operating income of no less than 25% in 2024 compared to 2020, and a return on net assets of no less than 16% [4]. - The company calculated a net asset return of 9.77% for 2024, indicating that the performance conditions were not met, leading to the cancellation of a total of 5,551,656 stock options [4]. Approval and Authorization of the Cancellation - On August 26, 2021, the company’s board of directors approved various proposals related to the second phase stock option incentive plan, including management and assessment methods [5]. - The plan received approval from China National Building Materials Group on September 9, 2021, allowing the implementation of the second phase stock option incentive plan [6]. - The company completed the registration of 14.07 million stock options on December 20, 2021 [7]. Decision-Making and Approval Procedures - The board of directors and supervisory board held meetings on August 30, 2023, to approve the adjustment of the second phase stock option incentive plan and the cancellation of certain stock options [8]. - The necessary decision-making and approval procedures for the cancellation of stock options have been fulfilled as of the date of the legal opinion [9].