CNCEC(SH:601117) Shang Hai Zheng Quan Bao·2025-08-04 18:59Core Viewpoint - The company is implementing a buyback and cancellation of 1,848,000 restricted stocks due to changes in the status of 19 incentive recipients, which no longer meet the incentive conditions as per the 2022 Restricted Stock Incentive Plan [2][6]. Group 1: Buyback and Cancellation Details - The total number of restricted stocks to be repurchased and canceled is 1,848,000 shares, resulting in a change in total share capital from 6,108,725,362 shares to 6,106,877,362 shares [2][7]. - The cancellation of these stocks is expected to be completed by August 7, 2025 [3][7]. Group 2: Decision and Disclosure Process - The decision for the buyback and cancellation was approved in meetings held on April 28, 2025, and June 26, 2025, by the company's board and shareholders [4][5]. - The company has complied with legal requirements for notifying creditors regarding the reduction of registered capital due to this buyback [5]. Group 3: Reasons for Buyback - The buyback is necessitated by the changes in the status of the 19 incentive recipients, which include resignations and transfers to other positions within the parent company [6][7]. - The company has ensured that the decision-making process and information disclosure comply with relevant regulations and does not harm the rights of the incentive recipients or creditors [8]. Group 4: Legal Compliance - The legal opinion confirms that the buyback and cancellation process has received necessary approvals and complies with applicable laws and regulations [9].