Kouzijiao(SH:603589) Xin Lang Cai Jing·2025-04-28 11:39Core Viewpoint - The company, Anhui Kouzi Liquor Co., Ltd. (Kouzi Jiao), has decided to terminate its 2023 restricted stock incentive plan and will repurchase and cancel the related restricted stocks due to significant changes in internal and external environments affecting its operations [2][3]. Group 1: Termination Reasons - The company cited substantial changes in the internal and external environment compared to when the incentive plan was established, leading to a deviation between actual operational performance and the set assessment indicators [2]. - Continuing with the incentive plan would likely not achieve the intended motivational purposes and effects, prompting the decision to terminate the plan and related documents [2]. Group 2: Repurchase and Cancellation Details - The company plans to repurchase a total of 1,880,528 shares of restricted stock, which includes 940,264 shares due to unmet performance targets for the 2024 fiscal year and an additional 940,264 shares as part of the termination of the incentive plan [3]. - The repurchase price will be the grant price of 35.16 yuan per share plus interest from the People's Bank of China’s term deposits, with funding sourced from the company's own funds [3]. Group 3: Future Arrangements and Impact - The termination of the incentive plan requires approval from the company's shareholders' meeting, after which the board will handle the repurchase and cancellation matters [4]. - The company intends to enhance its compensation system and improve performance assessment methods to motivate management and key personnel following the termination of the incentive plan [4]. - The termination of the incentive plan and the repurchase of restricted stocks are not expected to harm the interests of the company or its shareholders, nor will it significantly impact daily operations and future development [4].