Core Viewpoint - The company has established a stock option incentive plan for 2025 to attract and retain talent, enhance team cohesion, and align the interests of shareholders, the company, and core teams for long-term development [10][11]. Summary by Sections Incentive Plan Overview - The stock option incentive plan will grant a total of 15.324 million stock options, accounting for approximately 4.83% of the company's total share capital as of the plan's announcement date [2][15]. - The initial grant will consist of 12.324 million options (3.88% of total shares), while 3 million options will be reserved (0.95% of total shares) [2][15]. Granting and Eligibility - The plan will involve 1,153 initial grantees, including directors, senior management, core management, and technical (business) backbones, excluding independent directors and major shareholders [3][13]. - The initial grant's exercise price is set at 29.04 RMB per option, with adjustments possible based on corporate actions [5][8]. Performance Targets - The performance targets for the stock options are based on net profit growth, with specific annual growth rates set for 2025 (20%), 2026 (40%), and 2027 (60%) relative to the 2024 net profit [5][29]. Management and Oversight - The company's shareholders' meeting will approve the plan, and the board of directors will manage its execution, with a compensation committee overseeing the process [11][12]. - The plan includes provisions for the adjustment of stock options and exercise prices in response to corporate actions such as stock splits or dividends [31][32]. Duration and Conditions - The plan's validity extends up to 48 months from the date of authorization, with specific waiting periods before options can be exercised [18][19]. - The exercise of options is contingent upon meeting both company-level performance targets and individual performance assessments [26][30]. Compliance and Restrictions - The plan ensures compliance with relevant laws and regulations, and it outlines conditions under which individuals may not participate in the incentive program [14][7]. - There are restrictions on the transfer of shares acquired through the incentive plan, particularly for directors and senior management [22].