Kanion Pharmaceutical(600557) Shang Hai Zheng Quan Bao·2025-05-26 20:01Core Viewpoint - Jiangsu Kangyuan Pharmaceutical Co., Ltd. has decided to repurchase and cancel a total of 3.3003 million restricted stocks from 155 incentive recipients due to unmet performance assessment criteria for the fiscal year 2024 [2][5][8] Group 1: Reasons for Repurchase and Cancellation - The repurchase and cancellation of restricted stocks are based on the failure to meet the performance assessment conditions outlined in the 2022 Restricted Stock Incentive Plan [4][5] - The specific conditions for lifting the restrictions included a revenue growth rate of no less than 18% or a net profit growth rate of no less than 20% for 2024, which were not achieved [4][5] - The company reported a revenue of 389.77 million yuan for 2024, a decrease of 19.86% year-on-year, and a net profit of 39.19 million yuan, down 15.58% year-on-year [5] Group 2: Details of the Repurchase and Cancellation - The decision to repurchase was approved in the board and supervisory meetings held on April 2, 2025, and the relevant announcements were disclosed on April 3, 2025 [3][4] - The repurchase will be executed through a dedicated securities account, with the cancellation expected to be completed by May 29, 2025 [6] - After the cancellation, the 2022 Restricted Stock Incentive Plan will be fully concluded [8] Group 3: Legal and Compliance Aspects - The company has ensured that the decision-making process and information disclosure comply with relevant laws and regulations, including the Management Measures for Equity Incentives [9][10] - A legal opinion has confirmed that the necessary authorizations and approvals for the repurchase and cancellation have been obtained [10]