C&Y Pharmaceutical(SZ:300254) Zheng Quan Zhi Xing·2025-08-08 11:14Core Viewpoint - The legal opinion letter from Grandall Law Firm (Shanghai) confirms that Shanxi Qianyuan Pharmaceutical Group Co., Ltd. has obtained necessary approvals for the repurchase and cancellation of part of its restricted stock under the 2024 incentive plan, which is in compliance with relevant laws and regulations [1][9]. Group 1: Approval and Authorization of Repurchase - On May 16, 2024, the company's board of directors approved the draft of the 2024 restricted stock incentive plan and related proposals [5]. - On June 3, 2024, the company held a temporary shareholders' meeting to approve the incentive plan and related proposals [6]. - The board and supervisory committee verified the list of recipients for the restricted stock grants and the repurchase of stocks on subsequent meetings [6][9]. Group 2: Details of the Repurchase - The repurchase is based on the provision that if an incentive recipient leaves the company, the unvested restricted stocks will be repurchased at the grant price of 4.73 yuan per share, plus interest [7]. - A total of 60,000 shares will be repurchased due to one recipient's departure [7]. - The funds for the repurchase will come from the company's own funds [9]. Group 3: Conclusion and Compliance - The legal opinion concludes that the repurchase of restricted stocks has met the necessary approvals and is compliant with the relevant regulations and the incentive plan [9]. - The company must still complete the cancellation registration and related procedures as per the Company Law and fulfill information disclosure obligations [9].