Shanghai Shuixing Home Textile (SH:603365) Zheng Quan Zhi Xing·2025-07-13 08:12Core Viewpoint - The legal opinion letter from Shanghai Jintiancheng Law Firm confirms that Shanghai Mercury Home Textile Co., Ltd. has obtained the necessary approvals and authorizations for the repurchase and cancellation of part of the restricted stock under its 2024 incentive plan, in compliance with relevant laws and regulations [4][5][7]. Summary by Sections Approval and Authorization - On April 28, 2025, the company held meetings of the board and supervisory board, approving the proposal for the repurchase and cancellation of part of the restricted stock [4]. - The repurchase was authorized by the company's first extraordinary general meeting of 2024, thus not requiring further shareholder approval [4]. - The company notified creditors about the capital reduction due to the repurchase, with a public notice period of 30 days for creditors to claim debts [4]. Details of the Repurchase and Cancellation - The repurchase is due to one incentive recipient's departure, resulting in the cancellation of 40,000 shares of restricted stock, leaving a total of 4,570,000 shares remaining [5][6]. - The repurchase price is set at 7.26 yuan per share, totaling 291,857.62 yuan, funded entirely by the company's own funds [6]. Implementation Status - The company has opened a dedicated repurchase account with China Securities Depository and Clearing Corporation Limited, Shanghai Branch, and submitted the necessary applications for the repurchase [6]. - The company is expected to complete the necessary business registration changes following the repurchase [6][7]. Conclusive Opinion - The legal opinion asserts that the repurchase has met all necessary legal requirements and that the company must fulfill its disclosure obligations and complete the share cancellation and registration processes as per relevant laws [7].