Chinese Media(SH:600373) Zheng Quan Zhi Xing·2025-07-04 16:35Core Viewpoint - The company has completed the repurchase and cancellation of shares due to the failure of its subsidiaries to meet the 2024 performance commitments, resulting in a total compensation obligation of approximately RMB 262.24 million [1][3]. Group 1: Repurchase and Cancellation Details - The total number of shares to be repurchased and canceled is 27,517,188, which represents 1.97% of the company's total share capital before the repurchase [4][5]. - The repurchase price for these shares is set at RMB 1, with the remaining cash compensation of RMB 4.77 to be paid by Jiangxi Publishing Media Group [1][3]. - The company's registered capital will decrease from RMB 1,395,022,307 to RMB 1,367,505,119 following the cancellation of shares [2][6]. Group 2: Approval and Implementation - The repurchase plan was approved during the board and shareholder meetings held on April 17, 2025, and May 9, 2025, respectively [2][3]. - The shares have been transferred to the company's dedicated repurchase account as confirmed by the China Securities Depository and Clearing Corporation [4][5]. - The cancellation of the repurchased shares is scheduled for July 7, 2025, with necessary changes to be registered with the relevant authorities [5][6]. Group 3: Impact on Shareholder Structure - Following the cancellation, the controlling shareholder, Jiangxi Publishing Media Group, will see its shareholding decrease from 803,204,620 shares (57.58%) to 775,687,432 shares (56.72%) [7]. - The proportion of limited and unrestricted shares held by the controlling shareholder will also change, reflecting the impact of the share cancellation [7].