Group 1 - The core viewpoint of the article is the verification opinion of the Compensation and Assessment Committee regarding the list of incentive objects for the company's 2025 restricted stock incentive plan [1] - The authorized beneficiaries of the incentive plan are personnel identified in the incentive object list approved by the company's second extraordinary general meeting in 2025, including directors and senior management who have an employment or service relationship with the company [1] - The authorized beneficiaries do not fall under any disqualifying conditions as per Article 8 of the Management Measures, such as market entry bans, and meet the conditions stipulated in relevant laws and regulations [1] Group 2 - The grant date for the restricted stock under this incentive plan is agreed to be July 2025 by the Compensation and Assessment Committee [2]

Core Viewpoint - Zhejiang Fulai New Materials Co., Ltd. has announced the public disclosure and verification opinions regarding the initial grant list of the 2025 restricted stock incentive plan, ensuring compliance with relevant regulations and confirming the qualifications of the incentive recipients [1][2][3] Disclosure Situation - The company publicly disclosed the initial grant list of the 2025 restricted stock incentive plan on the Shanghai Stock Exchange website and through internal channels, with no feedback records reported [1] Verification Method - The Board of Directors' Compensation and Assessment Committee verified the initial grant list, including the identity documents, employment contracts, and positions held by the recipients [2] Verification Opinions - The committee confirmed that the individuals included in the initial grant list meet the qualifications as per the Company Law and Securities Law, and there are no falsehoods or significant misunderstandings regarding their basic information [2] - All recipients comply with the criteria set forth in the incentive plan and do not include independent directors, supervisors, or shareholders holding more than 5% of the company's shares [2][3] - The committee concluded that the public disclosure process for the initial grant list is legal and compliant, and the qualifications of the incentive recipients are valid [3]

Core Viewpoint - The legal opinion letter from Shanghai Junlan Law Firm confirms that Beijing Light Media Co., Ltd. has made adjustments to its 2023 restricted stock incentive plan, including changes to the grant price and conditions for the second vesting period, in compliance with relevant regulations [1][7]. Summary of Adjustments and Vesting Conditions - The adjustments to the incentive plan were approved by the board of directors and do not require further shareholder approval, as per the authorization from the shareholders' meeting [4][6]. - The adjusted grant price for the restricted stock is set at 4.01 yuan per share, following the company's annual equity distribution plan [5][6]. - The second vesting period for the restricted stock is defined as the period from the first trading day after 24 months from the grant date until the last trading day within 36 months from the grant date [6]. Performance Assessment Criteria - The vesting conditions include both company-level and individual-level performance metrics, with specific targets for revenue and net profit for the year 2024 [6]. - Company-level performance targets are set at 1.56 billion yuan for revenue and 520 million yuan for net profit, with corresponding thresholds for vesting [6]. - Individual performance assessments will determine the final number of shares that can vest, with 26 individuals qualifying for vesting based on their performance evaluations [6]. Compliance and Disclosure - The company has fulfilled its current disclosure obligations as required by the Management Measures, Listing Rules, and Regulatory Guidelines, and will continue to meet future disclosure requirements [7].

Core Viewpoint - The company has announced the completion of the second unlock period for its 2023 restricted stock incentive plan, allowing 23 eligible participants to unlock a total of 1.0515 million shares, which represents 0.53% of the company's total share capital [1][14]. Summary by Sections Incentive Plan Approval Process - The company held several board and supervisory meetings to approve the 2023 restricted stock incentive plan and its related matters, including the approval of the incentive object list and the management measures for the plan [2][3][4]. Unlock Conditions Achievement - The second unlock period for the restricted stock has been achieved as the company did not encounter any adverse conditions that would prevent the unlocking, such as negative audit opinions or profit distribution issues [9][12]. Performance Assessment - The performance assessment for the unlocking of shares is based on the company's financial performance and individual performance evaluations, with specific targets set for the years 2023 to 2025 [11][12]. Specifics of the Unlocking - The unlocking of shares will take effect on July 22, 2025, with 1.0515 million shares being released from restrictions, impacting the company's share structure by reducing the number of restricted shares and increasing the number of unrestricted shares [14][15]. Changes in Share Structure - Following the unlocking, the number of restricted shares will decrease from 43,676,766 to 42,625,266, while unrestricted shares will increase from 155,352,284 to 156,403,784, maintaining the total share count at 199,029,050 [15][16].

Core Viewpoint - Hunan Silver Co., Ltd. has announced the public disclosure of the list of incentive objects for its 2025 restricted stock incentive plan, which has been approved by the board and the compensation committee [1][2]. Summary by Sections Public Disclosure - The company publicly disclosed the names and positions of the 120 individuals selected as the first grant incentive objects from July 4 to July 14, 2025, with no objections raised during the public notice period [2]. Supervisory Board Review - The supervisory board conducted a review of the incentive object list in accordance with relevant regulations and confirmed that all selected individuals meet the qualifications outlined in the management and trial implementation measures [2][3]. - The review confirmed that none of the selected individuals fall under disqualified categories, such as being recognized as inappropriate candidates by the stock exchange or the China Securities Regulatory Commission (CSRC) within the last 12 months [2][3]. Compliance with Regulations - The incentive plan's selected objects do not include company supervisors, independent directors, shareholders holding 5% or more of shares, or their immediate family members, ensuring compliance with legal and regulatory requirements [3].

Core Viewpoint - The company has adjusted the repurchase price of the restricted stock incentive plan for 2022 to 4.7800 CNY per share due to the implementation of the 2024 annual profit distribution plan [1][4][5]. Summary by Sections Repurchase Price Adjustment - The repurchase price for the restricted stock was initially set at 4.9800 CNY per share and has been adjusted to 4.7800 CNY per share following the annual profit distribution [4][5]. - The adjustment is based on the cash dividend of 2.00 CNY per 10 shares distributed to shareholders, which amounts to a total cash dividend of 170,311,295.40 CNY [1][5]. Approval Process - The adjustment was approved during the 24th meeting of the 8th Board of Directors and the 24th Supervisory Board meeting held on July 16, 2025 [4][6]. - Prior approvals were obtained during the 20th meetings of the Board and Supervisory Board on April 24, 2025, and the annual shareholders' meeting on May 19, 2025 [2][3][4]. Impact on the Company - The adjustment of the repurchase price is not expected to have a significant impact on the company's financial status or operational results [5][6]. - The management team will continue to fulfill their responsibilities diligently to create value for shareholders [5]. Legal Compliance - The adjustment has been deemed legal and effective, complying with relevant laws and regulations regarding stock incentive plans [6].

证券代码：300891 证券简称：惠云钛业 公告编号：2025-050 债券代码：123168 债券简称：惠云转债 广东惠云钛业股份有限公司 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有 虚假记载、误导性陈述或重大遗漏。 一、2024年限制性股票激励计划已履行的相关审批程序 （二）2024年6月7日至2024年6月17日，公司于内部OA系统上发布了《激 励对象名单》，将公司本次拟首次授予激励对象的姓名及职务予以公示，截至 公示期满，公司监事会未收到任何员工对本次拟首次授予激励对象提出的任何 异议。具体内容详见公司2024年6月18日披露的《监事会关于2024年限制性股票 激励计划首次授予激励对象名单的公示情况说明及核查意见》。 （三）2024年6月19日，公司召开第五届董事会第三次会议和第五届监事会 第三次会议，审议并通过了《关于公司〈2024年限制性股票激励计划（草案修 订稿）〉及其摘要的议案》等相关议案，对《2024年限制性股票激励计划（草 案）》及其摘要的公司层面业绩考核要求进行优化调整，形成了《2024年限制 性股票激励计划（草案修订稿）》《2024年限制性股票激励计划（草案修订稿） ...

Core Viewpoint - The announcement details the first batch of restricted stock from the 2022 incentive plan of China Communications Construction Company (CCCC) that will be released from restrictions and listed for trading, following the achievement of performance conditions in 2023 [1][12]. Group 1: Stock Incentive Plan Details - The stock listing type is equity incentive shares, with 31,201,800 shares being released from restrictions, accounting for 33.75% of the total restricted stock granted [1][12]. - The stock will be available for trading starting from July 18, 2025 [1][12]. - The first batch of restricted stock was granted on April 26, 2023, at a price of 5.33 yuan per share, with a total of 9,795,000 shares granted to 658 individuals [7][11]. Group 2: Performance Conditions and Achievements - The performance conditions for the release of restrictions include a compound annual growth rate (CAGR) of 13.4%, not lower than 8%, and exceeding the industry average [9]. - The company met the performance assessment requirements, with 607 out of 625 eligible individuals achieving the necessary performance levels [9][11]. - The assessment results for the subsidiaries and individual performance evaluations were also taken into account, with specific coefficients determining the number of shares eligible for release [9][11]. Group 3: Stock Structure Changes - Following the release of restrictions, the total number of restricted shares will decrease from 112,900,000 to 81,698,200 shares, while the unrestricted shares will increase from 11,747,235,425 to 11,778,437,225 shares [12]. - The total number of shares after the changes will remain at 16,278,611,425 shares [12]. Group 4: Legal and Independent Opinions - The legal opinion confirms that the release of restrictions complies with relevant regulations and that the conditions for unlocking have been met [14]. - The independent financial advisor also supports that both the company and the incentive recipients meet the necessary conditions for the release of restrictions [14].

Core Points - The company announced the achievement of vesting conditions for the second vesting period of the 2023 restricted stock incentive plan, allowing for the vesting of 2,234,000 shares, with 2,072,000 shares from the initial grant and 162,000 shares from the reserved grant [1][18][26] Group 1: Incentive Plan Overview - The 2023 restricted stock incentive plan was approved, with a total of 10,460,000 shares granted, representing 4.91% of the company's total share capital as of the announcement date [1][4] - The plan includes a total of 66 initial grantees and 3 reserved grantees [2][4] Group 2: Vesting Conditions - The vesting conditions for the second vesting period of the initial grant and the first vesting period of the reserved grant have been met, allowing for the vesting of 223,400 shares [18][26] - The vesting schedule specifies that 30% of the shares will vest after 12 months, 20% after 24 months, 20% after 36 months, and 30% after 48 months from the grant date [6][7] Group 3: Performance Assessment - The performance assessment for the incentive plan is based on the company's average annual revenue from 2020 to 2022, with specific growth rate targets set for each assessment year [8][21] - If the company fails to meet the performance targets in any given year, the corresponding shares for that year will not vest and will be forfeited [8][22] Group 4: Grantee Details - The initial grant includes 64 active grantees, with 2 individuals having their shares forfeited due to personal reasons [15][26] - The vesting amounts for the initial grant include 280,000 shares for the chairman and general manager, and various amounts for other senior management and core technical personnel [25][26]

Core Viewpoint - The company, Di'A Co., has announced a stock incentive plan aimed at binding core talent with long-term company growth, reflecting confidence in future performance and commitment to its key team members [1][2]. Group 1: Incentive Plan Details - The company plans to grant a total of up to 901,900 shares of restricted stock to a core team of no more than 27 individuals, including directors and senior management, while excluding independent directors and major shareholders to avoid conflicts of interest [2]. - Key personnel such as the COO and supply chain head will receive significant portions of the stock, with the COO receiving 132,300 shares (14.67% of total) and the finance head receiving 116,200 shares (12.89% of total) [2]. - This strategy aims to reduce talent turnover and attract top external talent, creating a virtuous cycle of talent aggregation and performance growth [2]. Group 2: Performance Metrics - The incentive plan links performance to ambitious growth targets, requiring revenue growth rates of over 10%, 20%, 33%, and 46% from 2025 to 2028, with net profit targets set at 36 million, 100 million, 150 million, and 200 million respectively [3]. - A dual assessment system categorizes performance into six levels, ensuring that individual contributions are closely tied to team goals, thereby motivating high performers [3]. Group 3: Industry Context - The jewelry industry is showing signs of recovery despite a temporary downturn in 2024, driven by a favorable supply-demand structure and a predicted supply shortage in the diamond market by 2025 [4]. - Historical data indicates that downturns can be strategic opportunities for leading companies to enhance their competitive positions, as evidenced by Chow Tai Fook's market share increase during previous cycles [4]. - The Chinese jewelry market is expected to grow at a compound annual growth rate of 8.2% from 2023 to 2028, with a significant increase in design patents indicating ongoing product innovation [4]. Group 4: Market Performance - The jewelry sector has demonstrated strong long-term growth, with the gold and jewelry index yielding an annualized return exceeding 9% over the past five years, outperforming the Shanghai Composite Index [5]. - Current price-to-earnings (PE) ratios for the gold and jewelry industry are below 19 times, indicating a favorable valuation relative to historical averages [5]. Group 5: Emotional Consumption Strategy - The company is capitalizing on the growing trend of emotional consumption, particularly among Generation Z, by positioning its products as symbols of emotional value rather than mere jewelry [6]. - The emotional consumption market is projected to grow significantly, with the global healing economy expected to reach $7 trillion by 2025, and the Chinese emotional consumption market surpassing 2 trillion yuan [6]. - Di'A Co.'s strategy of linking its brand narrative to significant life events, such as marriage, differentiates it from other emotional consumption brands, enhancing consumer loyalty and competitive advantage [7].