Summary by Futu AI
On June 4, 2024, Great Wall Motor announced that the unlocking and exercise conditions of restricted stocks and stock options reserved for its 2021 stock-based incentive plan have been achieved. The legal opinion issued by Beijing Jincheng Tongda Law Firm confirms that the unlocking and exercise procedures comply with the provisions of the Company Law, the Securities Law, and relevant regulations, and that both the company and the incentive targets have not encountered any conditions that could have affected the achievement. Based on the company's performance evaluation results, the sales volume of automobiles reached 1.2252 million vehicles, and the net income reached 7.022 billion yuan in 2023, which met the performance targets for unlocking and exercise. The announcement stated that 217 incentive targets meet the unlocking conditions, while 5,538 incentive targets meet the exercise conditions. The company will fulfill its information disclosure obligations and complete the unlocking and exercise procedures in accordance with laws and regulations.