Core Viewpoint - The company has decided to change the purpose of its share repurchase from maintaining company value and shareholder rights to being used for an employee stock ownership plan or equity incentives [1][6]. Summary by Sections Share Repurchase Overview - The company approved a share repurchase plan on July 12, 2024, with a budget of between 1.6 million RMB and 3.1 million RMB for stabilizing the stock price, and an additional 10 million RMB to 20 million RMB based on the company's value judgment and future prospects [1][5]. Share Repurchase Details - The maximum repurchase price for shares aimed at stabilizing the stock price is set at 14.02 RMB per share, while the price for shares based on company value is capped at 19.23 RMB per share [2][3]. - The estimated number of shares to be repurchased under the stock price stabilization commitment ranges from 0.0512% to 0.0992% of total shares, while the number based on company value is approximately 520,020 shares [2]. Implementation Timeline - The repurchase for stock price stabilization will commence the trading day after the shareholder meeting and must be completed within 30 trading days [3]. - The repurchase based on company value will be executed within three months following the shareholder meeting's approval [3]. Progress and Completion - As of October 31, 2024, the company completed the repurchase, acquiring a total of 1,018,500 shares, which is about 0.46% of the total share capital, with a total transaction amount of approximately 11.99 million RMB [5]. - Shares repurchased for stock price stabilization will be canceled, while those acquired based on company value will be sold within three years [5]. Change in Repurchase Purpose - The change in repurchase purpose is aimed at implementing the 2025 employee stock ownership plan, enhancing the alignment of interests between the company, shareholders, and employees [6][7]. - This change is expected to motivate management and employees, improve company competitiveness, and will not adversely affect the company's operations, finances, or control [6][7].
海科新源: 关于变更回购股份用途的公告