Core Points - The company is implementing a stock incentive plan to attract and retain talent, aligning the interests of shareholders, the company, and key personnel for long-term development [10][19][30] - The plan involves granting 19.1 million restricted stocks, accounting for 3.10% of the company's total share capital, with an initial grant of 18.1 million shares [3][19] - The grant price for the restricted stocks is set at 9.62 yuan per share, with adjustments possible based on corporate actions [4][24] Summary by Sections Incentive Plan Overview - The incentive plan is based on various laws and regulations, including the Company Law and Securities Law, and aims to establish a long-term incentive mechanism [1][10] - The plan will be executed after approval from the shareholders' meeting and must comply with relevant regulations from the Hong Kong Stock Exchange if applicable [7][11] Stock Grant Details - The plan proposes to grant 19.1 million restricted stocks, with 18.1 million for the initial grant and 1 million reserved for future grants [3][19] - The initial grant represents 94.76% of the total, while the reserved portion accounts for 5.24% [3][20] - The total number of stocks involved in all effective incentive plans will not exceed 10% of the company's total share capital [3][20] Eligibility and Conditions - A total of 135 individuals will be granted stocks, representing 11.02% of the company's workforce [4][16] - Eligible participants include directors, senior management, and key personnel, excluding independent directors and major shareholders [6][16] - The plan specifies that no loans or financial assistance will be provided to participants for acquiring the stocks [10][11] Vesting Schedule - The restricted stocks will vest in three phases: 30% after 12 months, 30% after 24 months, and 40% after 36 months [5][21] - The vesting is contingent upon meeting performance targets set for the years 2026 to 2028 [27][30] Performance Metrics - The performance metrics for the incentive plan will focus on revenue growth rates, which are critical for assessing the company's operational status and market competitiveness [28][30] - The plan includes both company-level and individual performance assessments to determine the vesting of stocks [27][30] Adjustments and Compliance - The plan allows for adjustments to the number of restricted stocks and grant prices based on corporate actions such as stock splits or capital increases [24][31] - The company commits to ensuring that the implementation of the incentive plan does not violate any listing conditions [11][12]

Core Viewpoint - The company is implementing a stock incentive plan to attract and retain talent, aligning the interests of shareholders, the company, and key personnel for long-term development [10][11]. Group 1: Incentive Plan Overview - The incentive plan involves granting 19.1 million restricted stocks, accounting for approximately 3.10% of the company's total share capital at the time of the announcement [3][15]. - The initial grant consists of 18.1 million shares, representing 94.76% of the total grant, with a reserved portion of 1 million shares, accounting for 5.24% [3][15]. - The grant price for the restricted stocks is set at 9.62 yuan per share [4][20]. Group 2: Eligibility and Participants - A total of 135 individuals will receive the initial grant, representing 11.02% of the company's total workforce of 1,225 employees as of December 31, 2024 [4][13]. - Eligible participants include directors, senior management, core management, technical, and business personnel, excluding independent directors and major shareholders [4][6]. Group 3: Vesting and Performance Conditions - The restricted stocks will vest in three phases: 30% after 12 months, 30% after 24 months, and 40% after 36 months [5][18]. - The performance assessment for vesting will be based on the company's financial targets for the years 2026 to 2028 [21][23]. Group 4: Compliance and Legal Framework - The incentive plan is established in accordance with relevant laws and regulations, including the Company Law and Securities Law of the People's Republic of China [1][10]. - The plan will not lead to a violation of the company's shareholding distribution requirements for listing [9]. Group 5: Financial Implications - If all restricted stocks are fully subscribed, the company will raise approximately 174.12 million yuan, which will be used to supplement working capital [30].