JOINN(SH:603127) Zheng Quan Zhi Xing·2025-03-28 13:05Core Viewpoint - The company has terminated its employee stock ownership plans for 2021 and 2022 and will proceed to cancel the repurchased shares related to these plans, which will not materially affect its financial status or operational results [1][6][7]. Summary by Sections 1. Approval Procedures and Disclosure - The company held its fourth board meeting on March 28, 2025, where it approved the cancellation of repurchased shares from the terminated employee stock ownership plans [1]. - The 2021 A-share employee stock ownership plan was approved by the board and authorized to be managed by the board without needing further shareholder approval for termination [2]. - The 2022 A-share employee stock ownership plan also received board approval and was similarly authorized for termination without additional shareholder meetings [3]. 2. Repurchase and Cancellation of Shares - The company initiated a share repurchase plan in September 2021, intending to buy back shares worth between RMB 4 million and RMB 8 million, and successfully repurchased 101,714 shares at prices ranging from RMB 75.5 to RMB 79.3 per share, totaling approximately RMB 7.998 million [3][4]. - As of January 10, 2023, the company held 68,500 shares in the 2022 employee stock ownership plan account, representing about 0.013% of the total share capital [5]. - The company will cancel a total of 129,114 shares, including 33,124 shares from the repurchase account and 95,900 shares from the 2022 employee stock ownership plan account [6]. 3. Impact of Share Cancellation - The cancellation of shares will not have a significant impact on the company's financial condition or operational results, and the management team will continue to fulfill its responsibilities diligently [6][7]. - The total number of shares after the cancellation will be 749,348,220, with A-shares remaining at 630,353,014, maintaining the same percentage of 84.12% [6]. 4. Approval for Share Cancellation - The board has received authorization from the shareholders to handle the cancellation of repurchased shares and related capital reduction without needing further shareholder meetings [7].