Zheng Quan Zhi Xing·2025-06-13 11:25Core Viewpoint - The legal opinion letter from Guantao Law Firm confirms the legality and compliance of China Communications Construction Company Limited's (CCCC) repurchase and cancellation of part of the restricted stock incentive plan for 2022, including adjustments to the repurchase price [1][10]. Summary by Sections Approval and Authorization - CCCC has completed the necessary procedures for the repurchase and cancellation of restricted stocks, which were approved at the A-share and H-share shareholder meetings [4][5]. - The company has authorized its board of directors to handle all matters related to the repurchase of restricted stocks that have not been released from restrictions [5]. Implementation of Repurchase - The repurchase involves 411.72 million shares of restricted stock from 48 incentive recipients who no longer meet the incentive criteria due to various reasons such as leaving the company or failing performance assessments [6][7]. - The repurchase price for the restricted stocks will be adjusted based on the original grant price plus interest from bank deposits [8][9]. Repurchase Price Adjustments - The initial grant price for the restricted stocks is set at 5.33 CNY per share, while the reserved grant price is 5.06 CNY per share. Adjustments will be made based on cash dividends distributed to the incentive recipients [8][9]. - The market price for the repurchase is determined to be 8.85 CNY per share, which is the average trading price before the board's decision announcement [9]. Funding Source - The funds for the repurchase will come from the company's own resources, ensuring compliance with relevant regulations [9][10].