Valiant(SZ:002643) Zheng Quan Zhi Xing·2025-08-08 16:24Core Viewpoint - The company completed the repurchase and cancellation of 7,009,780 restricted stocks from 594 incentive recipients under the 2021 restricted stock incentive plan, resulting in a decrease in total share capital from 929,969,005 shares to 922,959,225 shares [1][23]. Summary by Sections 1. Repurchase and Cancellation Details - The repurchase price was set at 8.83 yuan per share, totaling approximately 61.90 million yuan [1][21]. - The repurchased shares accounted for 0.7538% of the company's total share capital prior to the repurchase [1][22]. 2. Background of the Incentive Plan - The 2021 restricted stock incentive plan aimed to enhance employee motivation and align their interests with the company's growth [1]. - The plan was approved by the board and received necessary regulatory approvals, including from the State-owned Assets Supervision and Administration Commission [1][3][4]. 3. Performance Assessment and Conditions - The performance targets for the third unlock period were not met, leading to the cancellation of the restricted stocks [1][19]. - The company's revenue compound growth rate was 6.07%, below the required 12% [1][19]. 4. Impact on Shareholding Structure - Following the repurchase, the controlling shareholder's stake increased from 24.9984% to 25.1883%, crossing a 5% threshold due to the reduction in total share capital [1][24]. - The number of shares held by the controlling shareholder remained unchanged, but the percentage increased due to the overall reduction in shares [1][24]. 5. Compliance and Future Implications - The repurchase and cancellation of shares comply with relevant regulations and will not materially affect the company's financial status or operational results [1][25]. - The management team will continue to fulfill their responsibilities and strive to create value for shareholders [1][25].