QSZY(SH:600103) Zheng Quan Zhi Xing·2025-06-13 09:54Core Viewpoint - The company announced the repurchase and cancellation of 12,428,300 shares of restricted stock due to unmet performance targets and the death of one incentive recipient [1][8][13]. Summary by Sections Repurchase and Cancellation Details - The number of restricted shares to be repurchased and canceled is 12,428,300 shares [1]. - The reason for the repurchase includes the company's failure to meet the performance assessment requirements for the 2024 restricted stock incentive plan and the death of one incentive recipient [1][6]. - The adjusted repurchase price for the restricted stock is set at 1.04131 yuan per share, following the company's annual profit distribution adjustments [1][12]. Performance Assessment Criteria - The performance assessment for the first unlock period of the restricted stock required a net asset return growth rate of no less than 9% and a net profit growth rate of no less than 15% compared to the average from 2021 to 2023 [6][7]. - The company's actual performance showed a net asset return of 1.32%, a net profit of approximately 51.51 million yuan, and a net profit growth rate of -57.39%, all of which fell short of the required targets [7][8]. Impact on Share Structure - Following the repurchase, the number of restricted shares with limited sale conditions will decrease from 40,926,000 to 28,497,700 shares, while the total shares will reduce from 2,253,255,047 to 2,240,826,747 shares [8][13]. - The repurchase will not change the controlling shareholder or the actual controller of the company, nor will it affect the company's compliance with listing conditions [13]. Financial Implications - The repurchase and cancellation of the restricted stock are not expected to have a significant impact on the company's financial status or operational results [13]. - The funds for the repurchase will come from the company's own funds [8]. Legal and Procedural Compliance - The company has followed necessary legal procedures and received approval from the supervisory board for the repurchase and cancellation of the restricted stock [14]. - The repurchase will lead to a reduction in registered capital, and the company will notify creditors accordingly [14].