QSZY(SH:600103) Shang Hai Zheng Quan Bao·2025-08-06 18:17Core Viewpoint - The company, Fujian Qingshan Paper Co., Ltd., announced the repurchase and cancellation of 12,428,300 restricted stocks due to unmet performance targets for the 2024 fiscal year and the death of one incentive recipient [2][4][11] Group 1: Reasons for Repurchase and Cancellation - The repurchase and cancellation of restricted stocks were triggered by the company's failure to meet the performance assessment requirements set in the 2024 restricted stock incentive plan [2][5] - The death of one incentive recipient led to the cancellation of 215,000 restricted stocks that had not yet been released from restrictions [4][5] Group 2: Details of the Repurchase - A total of 171 incentive recipients are involved in this repurchase, with 12,428,300 restricted stocks being canceled [8] - The repurchase price will be the lower of the grant price and the market price at the time of repurchase [5] Group 3: Performance Metrics - The company's net asset return rate for 2024 was 1.32%, with a growth rate of -59.34% compared to the average from 2021 to 2023, which was below the required 9% [7] - The adjusted net profit for 2024 was approximately 51.51 million, with a growth rate of -57.39% compared to the average from 2021 to 2023, falling short of the 15% target [7] Group 4: Future Actions - The company has opened a special securities account for the repurchase and plans to complete the cancellation by August 11, 2025 [9] - Following the cancellation, the remaining restricted stocks will total 28,497,700 [8] Group 5: Legal Compliance - The company confirmed that the decision-making process and information disclosure regarding the repurchase comply with relevant laws and regulations [10][11] - The company has committed to ensuring the accuracy and completeness of the information related to the repurchase and will bear legal responsibility for any disputes arising from it [10][11]