Zhejiang Xinao Textiles (SH:603889) Zheng Quan Zhi Xing·2025-06-20 10:07Core Viewpoint - Zhejiang Xin'ao Textile Co., Ltd. is adjusting the repurchase price and repurchasing and canceling part of its restricted stock under the 2023 incentive plan, which has been legally reviewed and deemed compliant with relevant laws and regulations [2][12]. Summary by Sections Legal Basis and Authorization - The legal opinion is based on the Company Law, Securities Law, and relevant regulations regarding stock incentive management [2][3]. - The company has completed necessary procedures, including board resolutions and independent director opinions, for the adjustment of the repurchase price and stock cancellation [7][9]. Adjustment of Repurchase Price - The repurchase price adjustment is due to the completion of the 2023 and 2024 profit distribution plans, with a cash dividend of 0.3 yuan per share [10]. - The adjusted repurchase price formula is P = P0 - V, where P0 is the original price of 4.11 yuan per share, resulting in an adjusted price of 3.51 yuan per share after accounting for dividends [10]. Repurchase and Cancellation of Restricted Stock - The repurchase and cancellation are due to six individuals retiring and two failing to meet performance standards, leading to the cancellation of their restricted stocks [11]. - The total repurchase amount is 67.9185 thousand yuan, funded entirely by the company's own resources [11]. Conclusion - The legal opinion concludes that the adjustments and cancellations have received necessary approvals and comply with relevant laws and regulations, with further disclosure obligations required [12].