Befar(SH:601678) Xin Lang Cai Jing·2025-05-18 08:10Core Viewpoint - Binhu Chemical Group Co., Ltd. (referred to as "Binhu Co.") will repurchase and cancel 1.2 million restricted stocks held by an incentive object who has left the company, following the necessary legal approvals and authorizations [1][2][3]. Group 1: Stock Repurchase and Cancellation - The third extraordinary general meeting of shareholders on November 5, 2024, approved the "2024 Restricted Stock Incentive Plan (Draft)" and related management measures [2]. - The board of directors approved the repurchase and cancellation of 1.2 million restricted stocks on March 22, 2025, due to the departure of an incentive object [2][3]. - The supervisory board also approved the repurchase and cancellation on March 24, 2025, and the company disclosed the relevant announcements on March 25, 2025 [2][3]. Group 2: Legal and Regulatory Compliance - The repurchase price will be adjusted according to the granting price, as stipulated in the incentive plan [3]. - The company has opened a dedicated securities account for the repurchase and submitted the application for cancellation [3]. - The cancellation of the stocks is expected to be completed by May 21, 2025, and the company will proceed with the necessary capital reduction registration [3].