Baolong Automotive(SH:603197) Zheng Quan Zhi Xing·2025-07-22 16:16Core Viewpoint - Shanghai Baolong Automotive Technology Co., Ltd. is implementing a buyback and cancellation of part of its restricted stock due to not meeting performance targets for the year 2024 as per its incentive plan [4][5]. Group 1: Buyback and Cancellation Details - The company plans to repurchase and cancel a total of 859,750 shares of restricted stock at a buyback price of 28.20 yuan per share [4][7]. - The decision for the buyback was made because the company's performance did not meet the second release condition of the incentive plan, which required a net profit growth rate of 100% and a revenue growth rate of 60% compared to 2022 [4][5]. - The buyback process has been approved by the board and the supervisory committee, ensuring compliance with relevant laws and regulations [4][5]. Group 2: Legal Opinions and Compliance - The legal opinion issued by Shanghai Panming Law Firm confirms that the buyback and cancellation process adheres to the Company Law, Securities Law, and the Management Measures for Equity Incentives [2][3]. - The law firm has conducted thorough verification of the facts and ensures that the conclusions drawn in the legal opinion are accurate and complete [2][3]. - The company has fulfilled its information disclosure obligations related to the buyback and cancellation of restricted stock [5][7].