JHEC(SH:600273) Shang Hai Zheng Quan Bao·2025-05-05 19:15Core Viewpoint - The company held its annual general meeting on April 30, 2025, where all proposed resolutions were approved, including a share buyback plan aimed at equity incentives and reducing registered capital [2][4][5]. Meeting Details - The annual general meeting was convened by the board of directors and chaired by the chairman, Han Jianhong [2][3]. - All current directors and supervisors attended the meeting, with independent directors participating via communication [3]. Resolutions Approved - The following key resolutions were passed: - 2024 Annual Board Work Report [4] - 2024 Annual Supervisory Board Work Report [4] - 2024 Financial Settlement and 2025 Business Plan [5] - 2024 Profit Distribution Proposal [5] - 2024 Annual Report and Summary [5] - Reappointment of auditing firms for 2025 [5] - Compensation plans for directors and executives for 2024 and 2025 [5] - Purchase of liability insurance for directors and supervisors [5] - Share buyback plan [5][6][9]. Share Buyback Plan - The company plans to repurchase shares with a total amount between RMB 400 million and RMB 600 million, using self-owned and self-raised funds [8][9]. - The repurchase price will not exceed RMB 12.01 per share, with an estimated repurchase quantity between 33.31 million shares (2.39% of total shares) and 49.96 million shares (3.59% of total shares) [9][15]. - The repurchase is intended for equity incentives and reducing registered capital, with up to 5 million shares (0.36% of total shares) allocated for equity incentives [9][12]. Financial Position - As of December 31, 2024, the company reported cash and cash equivalents of RMB 816.67 million, indicating a strong cash flow position [18][19]. - The company’s operational cash flow for the years 2022 to 2024 was RMB 1.54 billion, RMB 312.66 million, and RMB 994.17 million, respectively [18]. Capital Structure Changes - Following the share buyback, the company's total share capital will decrease from 1,391,045,207 shares to 1,356,879,522 shares, and registered capital will reduce from RMB 1,391,045,207 to RMB 1,356,879,522 [25].