Core Insights - China Ping An has completed its 2025 long-term service plan by purchasing 74.615 million H-shares, totaling 3.875 billion RMB, with participation from approximately 83,024 employees [2][3] - The long-term service plan has been in place for seven years, with a total of 486,800 participants and nearly 28.8 billion RMB invested, acquiring 351 million A-shares and 182 million H-shares [2][3][4] Summary by Category Long-term Service Plan - The 2025 long-term service plan involved purchasing H-shares at an average price of approximately 51.87 RMB per share, representing 0.412% of the total share capital [3] - The funds for the stock purchase came from employees' payable salary amounts, with a holding ratio of 2.52% for directors and senior management, while other employees held 97.48% [3] Employee Participation - The long-term service plan has a broader coverage compared to the previous core personnel stockholding plan, with 83,024 participants in the current plan versus 2,263 in the core personnel plan [5] - The plan aims to strengthen the long-term alignment of interests between the company and its employees, ensuring shared benefits and risks [5][6] Dividend Distribution - Dividend amounts received by employees vary based on their contributions to the company, reflecting a value-oriented approach [6] - The number of participants in the long-term service plan surged from around 30,000 in its early years to approximately 90,000 in recent years, stabilizing around 80,000 [6]

Core Opinion - The legal opinion letter confirms the legality and compliance of the core personnel stock ownership plan proposed by Guangzhou Yuexiu Capital Holdings Group Co., Ltd for the year 2025 [2][11][22] Company Qualification - Guangzhou Yuexiu Capital holds a valid business license issued by the Guangzhou Market Supervision Administration, with a registered capital of 5,017.132462 million RMB [4] - The company is legally established and has not encountered any circumstances that would necessitate its termination under relevant laws and regulations [4] Legality and Compliance of the Plan - The core personnel stock ownership plan has undergone necessary internal review procedures and has been disclosed accurately and timely, adhering to the principles of legality and compliance [5][6] - Participation in the plan is voluntary, with no coercion or forced distribution of shares to employees [6] - The plan includes up to 57 key personnel, including 4 directors and senior management, ensuring compliance with participation criteria [6][9] Legal Procedures - The company has conducted a staff representative meeting on February 18, 2025, to gather employee opinions regarding the plan [11][12] - The board of directors and the supervisory board have approved the plan in their respective meetings, ensuring that related directors abstained from voting [12][15] Information Disclosure - The company has fulfilled its information disclosure obligations regarding the plan, including the draft and summary of the plan and supervisory board resolutions [14][22] Voting Arrangements - The plan includes provisions for related directors and senior management to abstain from voting on relevant resolutions at the shareholders' meeting [15][20] Financing Participation - The plan outlines that during future financing activities, the management committee will discuss participation and funding solutions, requiring a two-thirds majority approval from plan participants [17][22] Relationship with Major Shareholders - The plan confirms that there are no agreements or arrangements for concerted action between the plan participants and the company's major shareholders or management [20][21]