Baolong Automotive(SH:603197) Zheng Quan Zhi Xing·2025-07-22 16:16Core Viewpoint - The company is implementing a buyback and cancellation of restricted stocks due to not meeting performance targets set in the 2023 incentive plan [1][3]. Group 1: Buyback and Cancellation Details - The company will repurchase and cancel a total of 859,750 shares of restricted stock that have not yet been released from restrictions [1][4]. - The buyback price for the restricted stocks is set at 28.20 yuan per share [2][3]. - The decision for the buyback was approved during the 25th meeting of the Supervisory Board [1][2]. Group 2: Performance Targets - The performance targets for the second release period of the incentive plan include a net profit growth rate and an operating income growth rate, each weighted at 50% [2][3]. - The achievement rate (P) is calculated using the formula P=A/Am50%+B/Bm50%, where A is the actual net profit, Am is the target net profit growth rate, B is the actual operating income, and Bm is the target operating income growth rate [2][3]. - The company did not meet the performance targets for the 2024 fiscal year, leading to the decision to cancel the restricted stocks [3]. Group 3: Share Structure Changes - After the buyback and cancellation, the company will have zero shares of restricted stocks remaining from the 2023 incentive plan [4]. - The total number of shares before the buyback was 214,482,196, which will reduce to 213,622,446 after the cancellation [4]. Group 4: Legal Compliance and Commitments - The company assures that the decision-making process and information disclosure comply with relevant laws and regulations [5]. - The company has confirmed that all involved parties have been informed about the buyback and cancellation, and no objections have been raised [5].