Core Viewpoint - The legal opinion letter confirms the legality and compliance of Jiangsu Financial Leasing Co., Ltd.'s stock incentive plan, specifically regarding the lifting of restrictions on shares held by Mr. Xian-Geng Xiong and the repurchase and cancellation of certain restricted stocks [1][10]. Group 1: Legal Compliance and Approvals - The company has obtained necessary approvals and authorizations for the implementation of the stock incentive plan, including independent opinions from the board and supervisory committee affirming the plan's benefits and compliance with regulations [4][5][10]. - The stock incentive plan has undergone required procedures, including various resolutions and independent assessments, ensuring it aligns with the relevant laws and company regulations [4][6][10]. Group 2: Details of Stock Incentive Plan - Mr. Xiong's restricted shares, totaling 504,000 shares, are set to have their restrictions lifted due to his retirement, meeting the conditions outlined in the incentive plan [10][11]. - The company plans to repurchase and cancel 513,332 shares of restricted stock from an individual who no longer qualifies as an incentive target due to termination [11][12]. Group 3: Financial Implications - The repurchase price for the restricted stocks is calculated at 1.57 yuan per share, based on adjustments for dividends and stock increases from 2019 to 2023 [12]. - The company has distributed dividends over the years, with the most recent being 3.2 yuan per 10 shares in 2023, reflecting a consistent profit-sharing strategy [12].

Core Points - The announcement details the unlocking and listing of restricted stock for Mr. Xian Gen Xiong, a key executive of Jiangsu Financial Leasing Co., Ltd, as part of the 2019 stock incentive plan [1][6][12] - A total of 504,000 shares will be listed for circulation on August 26, 2025, following the approval of the unlocking conditions [1][6][10] - The stock incentive plan was approved by the Jiangsu Provincial State-owned Assets Supervision and Administration Commission, and the relevant procedures have been followed [2][12][13] Summary by Sections Stock Incentive Plan Approval and Implementation - The 2019 stock incentive plan was approved by the 14th meeting of the Supervisory Board and received preliminary consent from the Jiangsu Provincial State-owned Assets Supervision and Administration Commission [1][2] - The plan included a public announcement of the incentive targets, which was conducted from December 25, 2019, to January 3, 2020, with no objections received [1][2] Unlocking Conditions and Procedures - The first unlocking of restricted stock for 146 incentive targets was approved, with a total of 29,159,956 shares granted at a price of RMB 3.89 per share on March 16, 2020 [2][5] - The unlocking conditions for Mr. Xiong were met due to his retirement and the successful completion of the economic responsibility audit [6][10] Stock Circulation and Capital Structure Changes - The unlocking of 504,000 shares will reduce the number of restricted shares from 2,431,332 to 1,927,332, while increasing the unrestricted shares from 5,789,948,431 to 5,790,452,431 [10][11] - The company will adhere to restrictions on the transfer of unlocked shares for six months post-unlocking [10][11] Supervisory and Legal Opinions - The Supervisory Board confirmed that the unlocking of Mr. Xiong's shares complies with relevant laws and regulations [10][12] - Legal opinions from Jiangsu Century Tongren Law Firm and Huatai United Securities confirmed that the procedures followed were in accordance with the Company Law and Securities Law [12][13]