Neoway(SH:688159) Zheng Quan Zhi Xing·2025-06-30 16:46Core Viewpoint - The legal opinion issued by Deheng Shanghai Law Firm confirms that Shenzhen Youfang Technology Co., Ltd. has complied with necessary approvals and disclosure obligations regarding the repurchase and cancellation of certain restricted stocks under its 2023 incentive plan [1][8]. Group 1: Approval and Disclosure - On April 29, 2025, the company's board approved the proposal to repurchase and cancel certain restricted stocks, which was disclosed on April 30, 2025, through designated media [4][5]. - The company notified creditors about the capital reduction due to the stock repurchase, allowing them 30 days to respond [5]. Group 2: Repurchase Details - The repurchase was triggered by the failure to meet performance targets, specifically a net profit growth requirement of at least 140 million RMB from 2022 to 2024 [6]. - The second unlock period for the restricted stocks saw an 85% unlock rate, with 20,250 shares being repurchased and canceled [6][7]. - The repurchase price was set at 11.20 RMB per share, totaling 22,680 RMB, funded by the company's own resources [7]. Group 3: Capital Structure Changes - Post-repurchase, the remaining restricted stocks will total 180,000 shares, with the overall share structure adjusted accordingly [7]. - The company will proceed with necessary legal registrations and disclosures following the stock cancellation [8].