Legal Opinion
First Section: Lawyer's Statement
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The lawyers of this firm have fulfilled their statutory duties in accordance with the "Company Law," "Securities Law," "Management Measures," "Trial Measures," "Notice," and other relevant laws, regulations, and normative documents, and based on facts that have occurred or existed prior to the issuance of this legal opinion. They have conducted thorough due diligence and verification, ensuring that the facts identified in this legal opinion are true, accurate, and complete, and that the conclusions are legal and accurate, free from any false records, misleading statements, or significant omissions, and they bear corresponding legal responsibilities.
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To issue this legal opinion, the lawyers of this firm, in accordance with the relevant provisions of the "Administrative Measures for Lawyers Engaging in Securities Legal Business" and the "Practice Rules for Lawyers Engaging in Securities Legal Business (Trial)," have reviewed the necessary documents and other documents deemed essential by the lawyers, and have conducted reasonable and sufficient verification and validation.
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This firm agrees that this legal opinion will be used as a necessary legal document for the Company's incentive plan and the current unlocking, and will be submitted along with other application materials. This firm is willing to bear the corresponding legal responsibilities.
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For facts that are crucial to this legal opinion but cannot be independently evidenced, this firm relies on certification documents issued by relevant government departments or other relevant institutions, as well as the statements provided by Inovance Technology to this firm.
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Inovance Technology has provided a commitment to the lawyers of this firm, guaranteeing that all necessary, true, and complete document materials for issuing this legal opinion have been fully provided to the lawyers of this firm. Furthermore, all provided documents are consistent with their originals, all signatures and seals on the documents are authentic, and all facts and documents that could affect this legal opinion have been disclosed to this firm without any concealment or omission.
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In this legal opinion, the lawyers of this firm only express legal opinions on the legal issues involved in the current incentive plan and unlocking. No opinions are expressed on non-legal professional matters such as accounting and auditing. Any citation of data or conclusions from financial statements or audit reports in this legal opinion does not imply any express or implied guarantee by this firm regarding the truthfulness and accuracy of such data or conclusions.
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This legal opinion is solely for the purpose of Inovance Technology's incentive plan and the current unlocking. It may not be used for any other purpose, nor may it be cited or relied upon by any other person, without the written consent of the lawyers of this firm.
Second Section: Main Body
I. Approval and Authorization for the Current Unlocking
(1) On November 11, 2022, the Company convened the 32nd meeting of the Fourth Board of Directors, which reviewed and approved the "Proposal on the 2022 Restricted Stock Incentive Plan (Draft) and its Summary," the "Proposal on the Management Measures for the Implementation of the 2022 Restricted Stock Incentive Plan," and the "Proposal on Authorizing the Board of Directors to Handle Matters Related to the 2022 Restricted Stock Incentive Plan by the Shareholders' Meeting." On the same day, the independent directors of the Company issued their independent opinions, agreeing to the implementation of the incentive plan.
(2) On November 11, 2022, the Company convened the 22nd meeting of the Fourth Supervisory Board, which reviewed and approved the "Proposal on the 2022 Restricted Stock Incentive Plan (Draft) and its Summary," the "Proposal on the Management Measures for the Implementation of the 2022 Restricted Stock Incentive Plan," and the "Proposal on the List of Recipients for the 2022 Restricted Stock Incentive Plan." The Supervisory Board verified the relevant matters of the incentive plan.