BEAR APPLIANCE(SZ:002959) Zheng Quan Zhi Xing·2025-08-29 17:46Core Viewpoint - The announcement details the achievement of conditions for the third exercise period of stock options and the second exercise period of reserved stock options under the 2022 stock option and restricted stock incentive plan of the company [1][9][19]. Summary by Sections Incentive Plan Overview - The incentive plan involves 25 eligible participants for the third exercise period, with a total of 188,100 stock options to be exercised, representing 0.12% of the company's total share capital, at an exercise price of 34.75 yuan per share [1][15]. - The second exercise period for reserved stock options will be announced separately once the conditions are met [1]. Board and Supervisory Committee Meetings - The company held multiple meetings to review and approve various aspects of the incentive plan, including the draft plan, management methods, and the list of incentive recipients [2][3][4]. - The supervisory committee confirmed that no objections were raised during the public notice period regarding the incentive recipients [2]. Adjustments to Exercise Prices - The exercise price for the first granted stock options was adjusted from 37.75 yuan to 36.95 yuan, and further adjustments were made in subsequent meetings [4][7][15]. - The latest adjustment set the exercise price for the first granted stock options at 34.75 yuan and for reserved stock options at 46.34 yuan [15]. Conditions for Exercising Options - The conditions for exercising the third exercise period stock options require the company to meet specific performance metrics, including a revenue growth rate of at least 30% compared to 2021 or a net profit growth rate meeting similar criteria [12][13]. - The waiting period for the third exercise period is set to end on October 16, 2025, while the second exercise period for reserved options will end on October 12, 2025 [10][11]. Impact on Company Structure - The exercise of these options is not expected to significantly impact the company's equity structure, and the controlling shareholder will remain unchanged [17]. - The company will manage the funds raised from the exercise of options to supplement its working capital [18]. Compliance and Legal Opinions - The supervisory committee and independent financial advisors confirmed that the incentive plan complies with relevant laws and regulations, and the conditions for exercising the options have been met [19][20].