Company Announcement
This company and its entire organization ensure that the incentive plan and its implementation do not contain any significant deviations, misleading descriptions, or inaccuracies, and bear full legal responsibility for the authenticity, accuracy, and completeness of the entire plan.
Special Instructions
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This incentive plan is based on the "Company Law of the People's Republic of China" and the "Regulations on the Management of Stock Incentives for Listed Companies" (the "Regulations").
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This incentive plan is a restricted stock incentive plan. The source of the shares for the plan comes from the company's secondary market repurchase of its common A shares.
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The company intends to grant a total of 1,022,371 restricted stock options, approximately 2.76% of the total share capital of the company, which is 37,044,328,064 shares. Among them, the first tranche is 992,371 shares, approximately 2.68%. The company plans to reserve 3,000,000 shares, approximately 0.08%.
The company will grant the restricted stock options in accordance with the plan, and the number of shares granted will not exceed 1% of the total share capital of the company.
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The initial grant price for the restricted stock options is set at 2.11 yuan/share.
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The grant of restricted stock options will be effective for one year, starting from the date of the first grant, and the sales restrictions on the restricted stock options will be lifted within 24 months after the second phase of lifting restrictions, with the respective ratios being 34%, 33%, and 33%.
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The incentive plan will have three phases of lifting restrictions, totaling 3,320 shares, including the company's incentive plan (including subsidiaries, controlling companies, etc.) and the high-level management personnel of the company.
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The lifting of restrictions on the restricted stock options is as follows:
| Grant Phase | Lifting Restriction Period | Lifting Restriction Ratio |
|---|---|---|
| First Phase | 24 months after the first grant | 34% |
| Second Phase | 36 months after the first grant | 33% |
| Third Phase | 48 months after the first grant | 33% |
- The plan stipulates that the lifting of restrictions on the restricted stock options will be subject to the following business performance conditions:
| Lifting Restriction Period | Business Performance Conditions |
|---|---|
| First Phase | Average ROE not less than 3.10% |
| Second Phase | Average ROE not less than 3.50% |
| Third Phase | Average ROE not less than 3.70% |
- The company does not have any of the following situations as stipulated in the "Regulations on the Management of Stock Incentives for Listed Companies":
(1) The company has not been subject to any significant penalties in the past 36 months.
(2) The company has not been involved in any major legal disputes.
(3) The company has not been subject to any major regulatory penalties.
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The company will hold a general meeting to review the incentive plan and will announce the relevant procedures.
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The incentive plan must meet the following conditions for implementation: the company will submit the plan to the regulatory authority for approval.
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The implementation of the incentive plan will not violate any listing conditions.