Core Viewpoint - The company has announced the third exercise period for its 2022 stock option incentive plan, allowing 52 eligible participants to exercise a total of 214,650 stock options at a price of 16.167 yuan per option, with the exercise period set from November 10, 2025, to October 16, 2026 [1][23]. Summary by Sections Stock Option Plan Details - The stock option code for this exercise is 037302, and the abbreviated name is 双环JLC2 [1][2]. - The total number of stock options available for exercise in this period is 214,650, with an exercise price of 16.167 yuan per option [1][23]. - The exercise will be conducted through a self-exercise model [2][24]. Approval and Compliance - The self-exercise process has been approved by the Shenzhen Stock Exchange, and the company has completed the necessary registration with the China Securities Depository and Clearing Corporation [3][4]. - The company has followed all required approval procedures for the stock option incentive plan, including board and supervisory committee meetings [4][5][6]. Conditions and Adjustments - The waiting period for the stock options was defined as 36 months from the grant date, which has now been fulfilled [10]. - The company will cancel any stock options that do not meet the exercise conditions, as per the plan's regulations [25]. Financial Impact - If all options are exercised, the company's total share capital will increase by 214,650 shares, but this will not significantly affect the company's equity structure or listing conditions [27]. - The impact on basic earnings per share and return on equity is expected to be minimal, with specific effects to be confirmed by an auditing firm [28]. Tax and Fund Management - Funds raised from the exercise will be stored in a designated account to supplement the company's liquidity [24]. - Participants are responsible for their personal income tax, which will be withheld and paid by the company [24]. Future Reporting - The company will disclose changes in incentive plan participants, adjustments to stock option parameters, and the status of self-exercise in future reports [29].