Western Region Gold (SH:601069) Zheng Quan Zhi Xing·2025-07-21 16:34Core Viewpoint - The company has completed the repurchase and cancellation of shares as a result of unmet performance commitments by its subsidiaries, leading to a reduction in total share capital and adjustments in share distribution [1][2][3]. Summary by Sections Repurchase and Cancellation Details - The company repurchased 6,682,313 shares from Xinjiang Nonferrous Metals Industry Group and Yang Shengrong at a total price of 1 RMB, which will be canceled [2][3]. - Following the repurchase, the total share capital of the company will change to 910,999,123 shares [2][4]. Performance Commitment Agreement - According to the performance commitment agreement, the subsidiaries were required to achieve a cumulative net profit of at least 331.3 million RMB for the years 2022 to 2024, which they failed to meet [3]. - As a result, Xinjiang Nonferrous and Yang Shengrong are obligated to compensate the company with shares, specifically 4,343,503 shares and 2,338,810 shares respectively [3]. Approval and Implementation - The repurchase plan was approved in meetings held on April 1, 2025, and subsequent shareholder meetings [2][4]. - The shares were officially transferred to the company's repurchase account as confirmed by the China Securities Depository and Clearing Corporation on July 18, 2025 [3][4]. Impact on Company Structure - The repurchase and cancellation of shares will not significantly affect the company's normal operations, financial status, or future development [4]. - The shareholding structure remains compliant with listing requirements, and there will be no change in control of the company [4]. Share Distribution Changes - The share distribution before and after the repurchase is detailed, showing a reduction in the total number of shares from 917,681,436 to 910,999,123 [4]. - The proportion of restricted shares will decrease from 25.47% to 24.92%, while unrestricted shares will increase from 74.53% to 75.08% [4].