Table of Contents
Table of Contents I Definitions II Section I Statement 1 Section II Main Body 2
- Approval and Authorization for the Plan, Vesting, and Repurchase and Cancellation 2 1-1 Approval and Authorization of the Plan 2 1-2 Approval and Authorization for Vesting 6 1-3 Approval and Authorization for Repurchase and Cancellation 6
- Specifics of Vesting 7 2-1 Vesting of Initial Grant 7 2-1-1 Completion of the Second Vesting Period for the Initial Grant 7 2-1-2 Achievement of Vesting Conditions for the Second Vesting Period of the Initial Grant 8 2-1-3 Incentive Recipients and Number of Shares for Partial Vesting of the Initial Grant 9 2-2-2 Achievement of Vesting Conditions for the First Vesting Period of the Reserved Grant 10 2-2-3 Incentive Recipients and Number of Shares for Partial Vesting of the Reserved Grant 11
- Specifics of Repurchase and Cancellation 12 3-1 Reasons and Number of Shares for Repurchase and Cancellation 12 3-2 Price of Repurchase and Cancellation 12 3-3 Source of Repurchase Funds 12 3-4 Changes in Share Capital Structure Before and After Repurchase and Cancellation 13
- Information Disclosure of the Plan 13 Section III Conclusion 13
Definitions
In this legal opinion, unless otherwise indicated by the context, the following terms have the meanings set forth below: The Firm/Desai: Guangdong Nanguo Desai Law Firm The Firm's Lawyers: Lawyers handling the case at Guangdong Nanguo Desai Law Firm Company/Listed Company/Yichang Technology: Guangzhou Yichang Technology Co., Ltd. Shareholders' Meeting: Shareholders' Meeting of Guangzhou Yichang Technology Co., Ltd. Board of Directors: Board of Directors of Guangzhou Yichang Technology Co., Ltd. Board of Supervisors: Board of Supervisors of Guangzhou Yichang Technology Co., Ltd. Articles of Association: Articles of Association of Guangzhou Yichang Technology Co., Ltd. CSRC: China Securities Regulatory Commission SZSE: Shenzhen Stock Exchange Shenzhen Market Supervision Administration: Shenzhen Market Supervision Administration "Company Law": "The Company Law of the People's Republic of China" "Securities Law": "The Securities Law of the People's Republic of China" "Management Measures": "Management Measures for Equity Incentives of Listed Companies" This Incentive Plan/This Plan/This Incentive Plan: Guangzhou Yichang Technology Co., Ltd. 2023 Restricted Stock Incentive Plan "Incentive Plan (Draft)": "Guangzhou Yichang Technology Co., Ltd. 2023 Restricted Stock Incentive Plan (Draft)" Restricted Stock: Guangzhou Yichang Technology Co., Ltd. stock whose transfer and other rights are restricted under the conditions stipulated in this Incentive Plan for incentive recipients. Incentive Recipients: Directors, senior management personnel, and core backbone employees of the Company who are granted reserved shares under this Incentive Plan. Grant Date: The date on which the Company grants reserved shares to incentive recipients. The Grant Date must be a trading day. This Grant: This grant of reserved shares to incentive recipients by Guangzhou Yichang Technology Co., Ltd. under the 2023 Restricted Stock Incentive Plan. Grant Price: The price determined by Guangzhou Yichang Technology Co., Ltd. when granting reserved shares to incentive recipients, which is the price at which incentive recipients acquire company shares. Vesting/Unlocking: For the initial grant of restricted shares under the Guangzhou Yichang Technology Co., Ltd. 2023 Restricted Stock Incentive Plan, after the first vesting period is met, the incentive recipients' restricted shares can be vested and traded on the market. Repurchase/Repurchase and Cancellation: Repurchase and cancellation of restricted shares from the initial grant under the Guangzhou Yichang Technology Co., Ltd. 2023 Restricted Stock Incentive Plan. Legal Opinion: This "Legal Opinion of Guangdong Nanguo Desai Law Firm on the Matters Related to the Achievement of Vesting Conditions for the Second Vesting Period of the Initial Grant and the First Vesting Period of the Reserved Grant and the Repurchase and Cancellation of Part of the Restricted Shares of Guangzhou Yichang Technology Co., Ltd. 2023 Restricted Stock Incentive Plan" issued by the Firm.