TENGDA CONST.(SH:600512) Zheng Quan Zhi Xing·2025-06-11 10:28Core Viewpoint - The company plans to repurchase and cancel 5,091,853 restricted stocks due to the failure to meet performance targets and changes in the eligibility of certain incentive recipients [1][2]. Summary by Sections 1. Reasons for Repurchase and Cancellation - The repurchase and cancellation of restricted stocks are due to the failure to meet the performance assessment targets for 2024 and changes in the eligibility of two incentive recipients [1][2]. - A total of 58 incentive recipients will have their restricted stocks repurchased, which includes 4,804,363 shares due to performance issues and 287,490 shares due to personal circumstances [2]. 2. Details of the Repurchase - The adjusted repurchase price for the restricted stocks is set at 1.36 yuan per share, which was determined after the completion of the 2023 profit distribution plan [1]. - The repurchase will be executed in accordance with the regulations, and the company has opened a dedicated securities account for this purpose [3]. 3. Changes in Share Structure - After the repurchase and cancellation, the remaining restricted stocks under the incentive plan will total 6,405,816 shares [3]. - The total number of shares before the repurchase was 1,598,902,832, which will decrease to 1,593,810,979 after the cancellation [5]. 4. Compliance and Legal Opinions - The board of directors confirmed that the decision-making process and information disclosure comply with relevant laws and regulations, ensuring no harm to the rights of incentive recipients or creditors [5][6]. - Legal opinions affirm that the adjustments and repurchase actions are in accordance with the applicable laws and regulations [6].