CMST(SH:600787) Shang Hai Zheng Quan Bao·2025-08-18 19:45Core Viewpoint - The company announced the repurchase and cancellation of 4,872,998 restricted shares due to unmet performance conditions and the retirement of certain incentive targets [2][4][6]. Summary by Sections Repurchase and Cancellation Reasons - The repurchase is based on the failure to meet the performance assessment conditions outlined in the company's restricted stock incentive plan, specifically for the third release period [3][4]. - The performance conditions included a minimum return on equity of 6% and a compound annual growth rate of 35% in net profit compared to 2019 [3][4]. Details of the Repurchase - The decision for the repurchase was approved during the board meeting held on June 18, 2025, and was authorized by the first extraordinary general meeting of shareholders in 2021 [3][6]. - The repurchase involves 124 incentive targets, with a total of 4,872,998 shares to be canceled, resulting in zero remaining restricted stock after the cancellation [6][7]. Legal and Compliance Aspects - The company has established a dedicated securities account for the repurchase and submitted the necessary applications to the relevant authorities [7]. - Legal opinions confirm that the repurchase has obtained all necessary approvals and complies with relevant laws and regulations, ensuring no harm to the rights of incentive targets or creditors [8].