SAIC MOTOR(SH:600104) Zheng Quan Zhi Xing·2025-05-30 10:37Core Viewpoint - The company plans to cancel repurchased shares and reduce its registered capital as part of its 2025 valuation enhancement plan, aiming to improve the quality and investment value of the listed company [1][4]. Group 1: Share Repurchase Implementation - The company completed its share repurchase plan initiated in September 2021, acquiring a total of 80,021,941 A shares at an average price of 18.75 RMB per share, using a total of 1.5 billion RMB [2][4]. - The repurchase was conducted to support employee stock ownership plans or equity incentives, with a total budget between 1.5 billion and 3 billion RMB [2]. Group 2: Reasons for Share Cancellation - The cancellation of repurchased shares is in accordance with the Company Law and relevant regulations, as the shares must be used for their intended purpose or canceled within three years after repurchase [2][4]. Group 3: Impact of Share Cancellation - Following the cancellation, the total number of shares will decrease from 11,575,299,445 to 11,495,277,504, reflecting a reduction of 80,021,941 shares [4]. - The registered capital will be reduced from 11,575,299,445 RMB to 11,495,277,504 RMB, and the company's articles of association will be amended accordingly [4]. - The cancellation will not significantly impact the company's operations, financial status, or debt repayment capabilities, nor will it harm the interests of minority investors [4]. Group 4: Protection of Creditor Interests - The company will follow legal procedures to notify creditors regarding the cancellation and capital reduction, ensuring the protection of their legitimate rights [5]. Group 5: Future Arrangements - The proposal for share cancellation and capital reduction will be submitted for approval at the shareholders' meeting, with the board seeking authorization to handle the necessary procedures [5].