Core Points - The company is implementing a stock option incentive plan for 2025, aiming to attract and retain talent while aligning the interests of shareholders, the company, and core team members [2][9][30] - The plan proposes to grant a total of 50 million stock options, representing approximately 0.85% of the company's total share capital, with 40.8 million options for initial grants and 9.2 million reserved for future grants [2][13][30] - The exercise price for the stock options is set at 1.66 yuan per share, with adjustments possible based on corporate actions such as stock splits or dividends [3][21][30] Summary by Sections Incentive Plan Overview - The incentive plan is designed to establish a long-term incentive mechanism, enhancing the motivation of the core team and ensuring the company's sustainable development [9][30] - The plan will be subject to approval by the company's shareholders and will be executed by the board of directors [10][30] Stock Options Details - The stock options will be sourced from the company's A-share ordinary stock, either through targeted issuance or repurchase from the secondary market [2][13] - The plan allows for adjustments to the number of stock options and exercise price in case of capital increases or other corporate actions [3][21] Eligibility and Distribution - The initial grant will not exceed 90 individuals, including middle and senior management and key technical personnel, excluding directors and major shareholders [2][11][30] - The distribution of stock options includes 3.15 million for middle management (63%) and 930,000 for key technical personnel (18.6%) [15][30] Performance Metrics - The performance metrics for the incentive plan focus on the company's comprehensive tourism revenue, with specific targets set for 2025 and 2026 [30][31] - The target revenue for 2025 is set at 1.1 billion yuan, representing a 44.93% increase from the average revenue over the past three years [30][31] Adjustment Procedures - The plan outlines procedures for adjusting stock option quantities and exercise prices in response to corporate actions, ensuring compliance with relevant regulations [32][33] - The adjustments will be reviewed and approved by the board of directors, with legal opinions obtained to ensure adherence to regulations [33][34]