Kings(SH:603505) Zheng Quan Zhi Xing·2025-06-24 17:48Core Viewpoint - The company is announcing the cancellation of part of its repurchased treasury shares due to the expiration of the three-year holding period, in compliance with relevant regulations [1][5]. Group 1: Share Cancellation Details - The company will cancel 2,969,710 shares from its repurchased treasury stock, reducing its registered capital from 604,772,233 yuan to 601,802,523 yuan [1][2]. - After the cancellation, the remaining shares in the repurchase account will be 2,136,799 shares [1][2]. Group 2: Share Repurchase Background - The company has repurchased a total of 5,106,509 shares since 2022, accounting for 0.84% of its total share capital [3]. - The repurchase was conducted at an average price of 31.52 yuan per share, with a total expenditure of approximately 93.6 million yuan [2][3]. Group 3: Regulatory Compliance - The cancellation of shares is in accordance with the Company Law and the Shanghai Stock Exchange's self-regulatory guidelines, which require shares intended for employee stock ownership plans or equity incentive plans to be transferred or canceled within three years [5][6]. - The company has completed the necessary procedures to notify creditors regarding the share cancellation [5][6]. Group 4: Impact on Share Structure - The share structure will change as follows: before cancellation, there were 604,772,233 shares, and after cancellation, there will be 601,802,523 shares, maintaining the same percentage of unrestricted circulating shares [6][7]. - The cancellation will not significantly impact the company's financial status or operational results, nor will it harm the interests of the company or its shareholders [7].