XWXN(SH:688778) Zheng Quan Zhi Xing·2025-06-26 16:20Core Viewpoint - The legal opinion letter addresses the differentiated equity distribution matters related to Xiamen Xatong New Energy Materials Co., Ltd.'s 2024 profit distribution and capital reserve fund conversion into share capital [1][2][7]. Group 1: Reasons for Differentiated Equity Distribution - The company has approved a plan to repurchase shares using its own funds through the Shanghai Stock Exchange, with a total of 1,170,589 shares repurchased as of June 13, 2025 [3][4]. - The profit distribution plan includes a cash dividend of 4.00 yuan (including tax) for every 10 shares and a capital reserve fund conversion of 2 shares for every 10 shares [4][5]. Group 2: Details of the Differentiated Equity Distribution Plan - The total share capital as of June 13, 2025, is 420,771,001 shares, with 1,170,589 shares in the repurchase account excluded from the distribution, resulting in 419,600,412 shares participating in the distribution [5]. - The total cash dividend to be distributed amounts to 167,840,164.80 yuan (including tax), and the total shares to be converted from the capital reserve fund is 83,920,082 shares, increasing the total share capital to an estimated 504,691,083 shares [5]. Group 3: Calculation Basis for the Differentiated Equity Distribution - The company will calculate the ex-rights and ex-dividend opening reference price based on the formula: (previous closing price - cash dividend) / (1 + change in circulating shares ratio) [6]. - The calculated ex-rights reference price based on actual distribution is approximately 43.88 yuan per share, with a minimal impact on the reference price due to the repurchased shares not participating in the distribution [6][7].