BAIYANG(SZ:002696) Zheng Quan Zhi Xing·2025-08-31 08:12Core Viewpoint - The announcement details the completion of the reserved grant registration for the 2024 restricted stock incentive plan of Baiyang Industrial Investment Group Co., Ltd, including the approval processes and specific grant details [1][2][3]. Summary by Sections Approval Procedures - On October 8, 2024, the company held the 12th meeting of the sixth board of directors, approving various proposals related to the incentive plan [1]. - The sixth supervisory board meeting on the same day also approved the relevant proposals and verified the list of incentive objects [2]. - The company received approval from the Qingdao State-owned Assets Supervision and Administration Commission for the implementation of the incentive plan on October 9, 2024 [3]. Reserved Grant Details - The reserved grant date is set for July 31, 2025, with a total of 988,000 shares to be granted at a price of RMB 3.14 per share [5]. - The grant will be distributed among 21 incentive objects, representing 100% of the reserved grant amount and 0.2852% of the current total share capital [5]. Lock-up Period and Release Conditions - The restricted stock will have a lock-up period divided into three phases: 24 months, 36 months, and 48 months from the grant date [5][6]. - The release of the restricted stock is contingent upon meeting specific performance targets over three accounting years (2025-2027) [7][8]. Performance Assessment Criteria - The performance assessment for the release of the restricted stock includes achieving net profit growth rates and return on equity targets compared to industry averages [8][9]. - If performance targets are not met, the restricted stock for that period will not be released and will be repurchased by the company [8]. Consistency and Verification - The list of incentive objects matches the previously publicized information, with no adjustments made [9]. - The company has confirmed that no directors or senior management participated in the stock trading prior to the grant date [10]. Financial Impact - The total number of shares will remain unchanged post-grant, thus not affecting the earnings per share [12][13]. - The company will recognize the cost of the incentive plan based on the market price at the grant date, with the total cost estimated to be confirmed in future financial reports [13][14].