的情形： （1）最近 12 个月内被证券交易所认定为不适当人选； （2）最近 12 个月内被中国证监会及其派出机构认定为不适当人选； 江苏赛福天集团股份有限公司董事会薪酬与考核委员会 关于公司2025年限制性股票激励计划授予激励对象名单 （授予日）的核查意见 江苏赛福天集团股份有限公司（以下简称"公司"）董事会薪酬与考核委员会 依据《公司法》《证券法》《上市公司股权激励管理办法》（以下简称"《管理办 法》"）等有关规定，对《江苏赛福天集团股份有限公司 2025 年限制性股票激 励计划》（以下简称"本次激励计划"或"《激励计划》"）授予激励对象名单 （授予日） 进行了核查，发表核查意见如下： 激励的其他人员。激励对象名单及其获授限制性股票的情况除经公司第五届董 事会第十八次会议审议调整事项外，均与公司 2025 年第一次临时股东会审议 通过的激励计划一致。 （5）法律法规规定不得参与上市公司股权激励的； （6）中国证监会认定的其他情形。 其中不包括董事、独立董事、监事、高级管理人员、单独或合计持有公司5%以 上股份的股东、公司实际控制人及其配偶、父母、子女。 次激励计划的授予条件已成就。 综上所述，董事会薪酬与 ...

Core Viewpoint - The company has announced the achievement of the vesting conditions for the second vesting period of its 2023 restricted stock incentive plan, allowing for the allocation of 1,247,200 shares to eligible participants, representing 1.04% of the total share capital [1][10][14]. Summary by Sections 1. Overview of the 2023 Restricted Stock Incentive Plan - The plan involves the issuance of restricted stock to certain employees, excluding independent directors and supervisors, with a total of 1,247,200 shares allocated for the second vesting period [1][2]. - The plan's effective period is up to 48 months from the grant date, with specific vesting arrangements outlined for three periods: 30% for the first period, 40% for the second, and 30% for the third [2][3]. 2. Vesting Conditions and Performance Targets - The vesting conditions require a minimum revenue growth of 20% for 2023, 30% for 2024, and 40% for 2025, based on 2022 performance [4][13]. - Personal performance assessments will determine the actual number of shares vested, with ratings ranging from excellent to unsatisfactory affecting the vesting percentage [6][13]. 3. Approval and Compliance - The plan has undergone necessary approvals from the board and supervisory committee, confirming compliance with relevant regulations and internal policies [10][15]. - A legal opinion has been provided affirming that the plan's implementation adheres to applicable laws and regulations [16]. 4. Financial Impact - The allocation of 1,247,200 shares will increase the company's total share capital from 120,202,400 shares to 121,449,600 shares, which may dilute earnings per share and net asset return but is not expected to significantly impact the company's financial status [17][18]. 5. Documentation and Records - Key documents related to the board and supervisory committee meetings, as well as legal opinions, are available for review [18].

Core Points - The company has approved the cancellation of stock options under the seventh equity incentive plan due to the departure of 23 employees and performance issues of 153 employees [1][4][5] Group 1: Equity Incentive Plan Overview - The seventh equity incentive plan allows for the grant of up to 34.76 million shares, with an initial grant of 31.28 million shares to 1,225 individuals, representing 1.17% of the company's total share capital of 2,678.14 million shares [1][2] - The initial grant of stock options was set at 31 million shares with an exercise price of 42.87 yuan per share [1][2] - Following adjustments, the number of stock options granted was reduced to 30.89 million shares for 1,146 individuals, and later to 30.69 million shares for 1,139 individuals due to further departures and withdrawals [2][3] Group 2: Cancellation of Stock Options - A total of 625,876 stock options will be canceled, including 528,000 options from 23 departing employees and 97,876 options from 153 employees who did not meet performance criteria [4][5] - The cancellation of stock options will not significantly impact the company's financial status or operational performance [5] Group 3: Accounting Treatment - The cancellation of stock options will lead to adjustments in capital reserves and current expense costs according to relevant accounting standards [4]

法律意见书 广州市天河区珠江东路 32 号利通广场 29 楼 2901 室 邮编/Zip Code:510623 电话/Tel:86-020-37392666 传真/Fax:86-020-37392826 电子邮箱/E-mail：kdgzlaw@163.com 北京 天津 上海 深圳 广州 西安 沈阳 南京 杭州 海口 菏泽 成都 苏州 呼和浩特 长沙 厦门 郑州 香港 武汉 北京市康达（广州）律师事务所 关于深圳市汇川技术股份有限公司 第七期股权激励计划首次授予第二类限制性股票第一个归属期 归属条件成就、首次授予股票期权第一个行权期行权条件成就 暨注销部分股票期权的 法 律 意 见 书 康达(广州)法意字【2025】第 0235 号 二〇二五年八月 法律意见书 北京市康达（广州）律师事务所 关于深圳市汇川技术股份有限公司 第七期股权激励计划首次授予第二类限制性股票第一个归属期 归属条件成就、首次授予股票期权第一个行权期行权条件成就暨 注销部分股票期权的 法律意见书 康达(广州)法意字【2025】第 0235 号 致：深圳市汇川技术股份有限公司 北京市康达（广州）律师事务所接受深圳市汇川技术股份有限公司（以下 ...

Core Viewpoint - The company has announced adjustments to the grant price and quantity of its 2023 restricted stock incentive plan, following necessary procedures and approvals [1][2][3]. Group 1: Procedures and Approvals - The company held multiple meetings, including the sixth board meeting and the sixth supervisory board meeting, to review and approve the incentive plan and related proposals [1][2][3]. - The company conducted an internal public notice period for the incentive plan's designated recipients, during which no objections were raised [2][3]. - The second extraordinary general meeting of shareholders approved the incentive plan and related matters on September 7, 2023 [3][4]. Group 2: Adjustments to Grant Price and Quantity - The grant price of the restricted stock has been adjusted from 4.32 yuan per share to approximately 3.09 yuan per share due to capital reserve transfers and stock dividends [5][6]. - The number of shares granted but not yet vested has been adjusted from 39.29 million shares to 55.01 million shares, reflecting the same capital reserve transfers and stock dividends [5][6]. Group 3: Impact and Compliance - The adjustments comply with relevant regulations and will not materially affect the company's financial status or operating results [6]. - The board's compensation and assessment committee has agreed that the adjustments do not harm the interests of the company or its shareholders [6][7]. Group 4: Legal and Financial Advisory Opinions - Legal opinions confirm that the adjustments and related actions have received necessary approvals and comply with applicable laws and regulations [7]. - Independent financial advisors have reported that the adjustments have followed necessary review procedures and disclosure obligations [7].

Transaction Overview - Shenzhen Ruifeng Optoelectronics Co., Ltd. agreed to implement an equity incentive plan for its affiliate, Zhuhai Weineng Automotive Lighting Co., Ltd. (Weineng Lighting), to stabilize the management team and ensure long-term business development [1][5] - The management team led by Liang Wenli has significantly increased revenue and profit since joining in 2021, prompting the decision to reward him with a 10% equity incentive [1][5] Equity Transfer Details - The company transferred 1.765% of its equity in Weineng Lighting to Liang Wenli at a consideration of 0 yuan, reducing its ownership from 15% to 13.235% [1][5] - The equity transfer agreement was approved by the shareholders' meeting of Weineng Lighting [1][2] Financial Data of Weineng Lighting - As of June 30, 2025, Weineng Lighting reported total assets of approximately 365.95 million yuan, total liabilities of about 217.29 million yuan, and net assets of around 148.66 million yuan [3] - The company's revenue for the year ending December 31, 2024, was approximately 277.32 million yuan, with a net profit of about 24.53 million yuan [3] Shareholding Structure Changes - Post-transaction, the shareholding structure of Weineng Lighting will change, with Liang Wenli holding 10% of the company, while other shareholders will see slight reductions in their stakes [4] Impact on Company - The equity transfer aims to enhance the long-term incentive mechanism, attract and retain talent, and align interests among stakeholders, which is expected to positively impact the company's long-term operational development [5]

声明：市场有风险，投资需谨慎。 本文为AI大模型基于第三方数据库自动发布，任何在本文出现的信 息（包括但不限于个股、评论、预测、图表、指标、理论、任何形式的表述等）均只作为参考，不构成 个人投资建议。受限于第三方数据库质量等问题，我们无法对数据的真实性及完整性进行分辨或核验， 因此本文内容可能出现不准确、不完整、误导性的内容或信息，具体以公司公告为准。如有疑问，请联 系biz@staff.sina.com.cn。 点击查看公告原文>> 责任编辑：小浪快报 2025年8月27日，中百控股集团股份有限公司监事会发布关于回购注销部分限制性股票的审核意见。 根据《公司法》《证券法》《上市公司股权激励管理办法》等相关法律法规，以及公司《2022年限制性 股票激励计划》和《公司章程》规定，监事会对此次已获授但尚未解除限售的限制性股票回购注销相关 事项进行审核。 因7名激励对象出现工作岗位调整、死亡、主动辞职等情况，不再具备激励对象资格，公司拟对这7名原 激励对象持有的111,000股（合11.1万股）已获授但尚未解除限售的限制性股票进行回购注销。其中，因 工作岗位调整、死亡等原因不再具备资格的6名激励对象，回购价格为授予 ...

Core Insights - The company achieved a revenue of 3.221 billion yuan in H1 2025, representing a year-on-year increase of 32.72%, and a net profit attributable to shareholders of 378 million yuan, up 22.55% year-on-year [1] - In Q2 2025, the company reported a revenue of 1.741 billion yuan, a year-on-year growth of 30.99%, and a net profit of 174 million yuan, increasing by 8.54% year-on-year [1] - The company's proprietary brands and online channels continue to show strong growth, with staple food and snacks achieving revenues of 1.88 billion yuan and 1.29 billion yuan respectively in H1 2025, reflecting increases of 57% and 8% year-on-year [1] Revenue and Profitability - The company's e-commerce direct sales revenue reached 1.21 billion yuan in H1 2025, a year-on-year increase of 39.72%, accounting for 37.7% of total revenue; direct sales from Alibaba and Douyin platforms amounted to 880 million yuan, up 45.9% year-on-year [1] - The gross margin improved in Q2 2025, reaching 43.8%, an increase of 1.0 percentage points year-on-year and 2.3 percentage points quarter-on-quarter, primarily due to the rising proportion of proprietary brands, especially mid-to-high-end brands [1] Cost Structure and Strategic Initiatives - In Q2 2025, the sales, management, and financial expense ratios increased by 3.5, -0.4, and +0.5 percentage points year-on-year respectively, with sales expenses mainly related to brand promotion [2] - The company continues to innovate and lead the industry, with the launch of new high-end products and the completion of the 2.0 upgrade for the Freycat brand [2] - The company has implemented a second phase of its equity incentive plan, which is expected to enhance team motivation and support long-term growth [2] Profit Forecast - The profit forecast has been slightly adjusted due to the impact of incentive expenses, with expected net profits attributable to shareholders for 2025-2027 projected at 750 million, 980 million, and 1.23 billion yuan respectively, corresponding to PE ratios of 54, 41, and 33 times [2]

Core Viewpoint - Fosun Pharma has demonstrated strong performance in its innovative drug segment, achieving significant revenue growth and showcasing resilience in high-quality development through continuous innovation and global operations [1][2]. Group 1: Financial Performance - In the first half of 2025, Fosun Pharma reported total revenue of 19.514 billion yuan and a net profit attributable to shareholders of 1.702 billion yuan [1]. - The innovative drug segment generated over 4.3 billion yuan in revenue, reflecting a year-on-year growth of 14.26% [1]. Group 2: R&D Investment and Strategy - Fosun Pharma invested a total of 2.584 billion yuan in R&D, with 1.717 billion yuan specifically allocated to R&D expenses [2]. - The pharmaceutical segment's R&D investment reached 2.295 billion yuan, accounting for 16.51% of its revenue, indicating a strong commitment to innovation [2]. - The company has set ambitious performance targets for its A+H share incentive plan, aiming for a compound annual growth rate (CAGR) of at least 19% in net profit and innovative drug revenue from 2025 to 2027 [2]. Group 3: Product Pipeline and Therapeutic Areas - Fosun Pharma has developed a high-value pipeline focusing on solid tumors, hematological malignancies, and immune-inflammatory diseases, with significant advancements in its product offerings [3][4]. - The company has made progress in the solid tumor sector with products like Surufatinib and Trastuzumab, enhancing its leadership in breast cancer and rare tumor treatments [3]. - In the hematological field, the commercialization of CAR-T product Yikaida has accelerated, with over 110 insurance plans covering it, improving accessibility [3]. Group 4: Global Operations and Market Expansion - Fosun Pharma's overseas revenue reached 5.478 billion yuan in the first half of 2025, accounting for nearly 30% of total revenue, with ongoing expansion in both mature and emerging markets [5]. - The company has established a local innovation drug team in the U.S. and is preparing for the commercialization of Surufatinib, alongside building clinical operation teams for trial advancements [5]. Group 5: Medical Devices and Market Position - The medical device segment has shown strong performance, with over 450 Da Vinci surgical robots installed in China and Hong Kong, serving over 760,000 patients [6]. - The Ion bronchial navigation system has been successfully commercialized, reinforcing the company's leadership in high-end medical equipment [6]. Group 6: Long-term Growth and Valuation - Fosun Pharma is solidifying its long-term growth foundation through a dual strategy of innovation-driven development and global expansion [6]. - The current low PE level of its A+H shares may indicate a value investment opportunity, as market recognition of its innovative capabilities and performance potential is expected to drive valuation recovery [6].

Core Viewpoint - Fosun Pharma has demonstrated strong performance in its innovative drug segment, achieving significant revenue growth and showcasing resilience in high-quality development through continuous innovation and global operations [1][2]. Group 1: Financial Performance - In the first half of 2025, Fosun Pharma reported total revenue of 19.514 billion yuan and a net profit attributable to shareholders of 1.702 billion yuan [1]. - The innovative drug segment generated over 4.3 billion yuan in revenue, reflecting a year-on-year growth of 14.26% [1]. Group 2: R&D Investment and Strategy - Fosun Pharma invested a total of 2.584 billion yuan in R&D, with 1.717 billion yuan specifically allocated to R&D expenses [2]. - The pharmaceutical segment's R&D investment reached 2.295 billion yuan, accounting for 16.51% of its revenue, indicating a strong commitment to innovation [2]. - The company has set ambitious performance targets for its A+H share incentive plan, aiming for a compound annual growth rate (CAGR) of at least 19% in net profit and innovative drug revenue from 2025 to 2027 [2]. Group 3: Product Pipeline and Therapeutic Areas - Fosun Pharma has developed a high-value pipeline focusing on core therapeutic areas such as solid tumors, hematological malignancies, and immune inflammation [3]. - The company has made significant advancements in solid tumor treatments, with products like Surufatinib and Trastuzumab gaining approval, solidifying its leadership in breast cancer and rare tumor treatments [3]. - In the hematological field, the commercialization of CAR-T product Yikaida has accelerated, with over 110 insurance plans covering it, enhancing accessibility [3]. Group 4: Global Operations and Market Expansion - In the first half of 2025, Fosun Pharma's overseas revenue reached 5.478 billion yuan, accounting for nearly 30% of total revenue [5]. - The company is expanding its presence in both mature markets like the US and Europe, as well as emerging markets in ASEAN and the Middle East [5]. - Fosun Pharma has established a local innovation team in the US to prepare for the commercialization of Surufatinib and has set up clinical operations teams to facilitate trials [5]. Group 5: Medical Devices and Market Leadership - The medical device segment has also shown strong performance, with over 450 Da Vinci surgical robots installed in China and Hong Kong, serving over 760,000 patients [6]. - The Ion bronchial navigation system has been successfully commercialized, further strengthening the company's leadership in high-end medical equipment [6]. Group 6: Long-term Growth and Valuation - Fosun Pharma's dual approach of "innovation-driven + global layout" is solidifying its long-term growth foundation [6]. - The current low PE level of its A+H shares may indicate a value allocation opportunity, as the market begins to recognize its innovative capabilities and performance [6].