QCMC(SH:600229) Zheng Quan Zhi Xing·2025-07-01 16:31Core Viewpoint - Qingdao Urban Media Co., Ltd. has decided to change the purpose of repurchased shares from "future equity incentive plan" to "cancellation and reduction of registered capital" and will cancel 10,500,216 shares, reducing the total share capital from 671,208,000 shares to 660,707,784 shares [1][2][3]. Group 1 - The decision to cancel the repurchased shares was approved during the board meeting on April 24, 2025, and the annual general meeting on May 16, 2025 [1]. - The company has complied with legal requirements regarding creditor notification and has not received any objections from creditors regarding the cancellation of shares [2]. - The cancellation of shares is based on the legal requirement that repurchased shares must be utilized within three years, and since the company did not implement an equity incentive plan during this period, it opted for cancellation to protect investor interests [2]. Group 2 - The total number of shares to be canceled is 10,500,216, which is expected to be completed by July 2, 2025 [2]. - After the cancellation, the company's total share capital will decrease to 660,707,784 shares, maintaining the same percentage distribution of share types [3][4]. - The cancellation will not affect the company's debt repayment ability, ongoing operations, future development, or control rights, and it will not harm the interests of shareholders, especially minority shareholders [5].