MJNY(SZ:000723) Shang Hai Zheng Quan Bao·2025-04-22 21:02Core Viewpoint - Shanxi Meijin Energy Co., Ltd. has completed the repurchase and cancellation of 27,965,750 restricted stocks, which accounts for 0.63% of the company's total share capital before the cancellation, and the repurchase price is based on the grant price plus bank deposit interest [2][4]. Group 1: Stock Repurchase and Cancellation - The number of stocks repurchased and canceled is 27,965,750 shares, reducing the total share capital from 4,431,432,532 shares to 4,403,466,782 shares [2][4]. - The repurchase and cancellation procedures have been completed with the China Securities Depository and Clearing Corporation Limited [3]. - The conversion price for the company's convertible bonds remains unchanged at 5.26 yuan per share after the stock cancellation [4][16]. Group 2: Background of the Restricted Stock Incentive Plan - The 2022 Restricted Stock Incentive Plan was approved by the board on January 21, 2022, with specific performance assessment targets set for the incentive plan [5][6]. - The grant price of the restricted stocks was adjusted from 6.96 yuan to 6.76 yuan due to equity distribution in 2021 [6]. - The total number of restricted stocks granted was 56,159,500 shares to 457 individuals, with the grant date set for September 20, 2022 [8]. Group 3: Reasons for Repurchase and Financial Impact - The repurchase was due to the failure to meet the performance assessment criteria, which required a net profit growth rate of no less than 10% compared to the average net profit from 2019 to 2021 [12][13]. - The audited net profit for 2023 was approximately 289 million yuan, which was a 74.33% decrease compared to the average net profit from 2019 to 2021, thus failing to meet the performance targets [13]. - The funds for the repurchase were sourced entirely from the company's own funds [14]. Group 4: Impact on Company Structure and Management - The stock repurchase and cancellation will not lead to changes in the controlling shareholder or actual controller, and the company's equity distribution remains compliant with listing conditions [17]. - The management team is expected to maintain its motivation and stability, continuing to fulfill its responsibilities to create value for shareholders [17].