Core Viewpoint - The independent financial advisory report by Shanghai Miaodao Enterprise Management Consulting Co., Ltd. evaluates the fifth employee stock ownership plan of Guoxuan High-Tech Co., Ltd., ensuring it does not harm the interests of the company and its shareholders [1][2][3]. Summary by Sections Independent Financial Advisor's Role - Shanghai Miaodao Enterprise Management Consulting Co., Ltd. is appointed as the independent financial advisor for Guoxuan High-Tech's fifth employee stock ownership plan, providing opinions based on relevant laws and regulations [1][2]. Assumptions and Responsibilities - The advisor assumes that the information provided by Guoxuan High-Tech is accurate and complete, and that there are no significant changes in laws or market conditions that could affect the plan [2][3]. Employee Stock Ownership Plan Overview - The plan allows participation from company directors (excluding independent directors), supervisors, senior management, and core employees, with a total funding cap of 236.0375 million yuan, equating to 23.60375 million shares at 1 yuan per share [5][6][7]. Funding and Stock Sources - The funding for the plan comes from employees' legal salaries and self-raised funds, with no leverage or financial assistance from the company. The stock will be sourced from shares repurchased by the company [7][8]. Stock Purchase Price - The purchase price for the stock is set at 21.07 yuan per share, which is not less than 60% of the average trading price prior to the announcement of the plan [9][10]. Lock-up and Performance Assessment - The plan includes a lock-up period for shares, with different terms for various participant categories. Performance assessments will be based on annual revenue targets from 2025 to 2027, with specific revenue goals set for each assessment period [11][13][14]. Management and Governance - The plan will be managed by a committee elected by the participants, ensuring that the assets are kept separate from the company's assets and that participants' rights are protected [17][18]. Termination and Changes - The plan can be terminated or modified with the consent of two-thirds of the participants, and any changes must be approved by the company's board [19][20].