CMST(SH:600787) Zhong Guo Zheng Quan Bao - Zhong Zheng Wang·2025-08-18 23:59Core Viewpoint - The company will repurchase and cancel a total of 4,872,998 restricted shares due to unmet performance conditions and the retirement of certain incentive plan participants [2][5][6]. Group 1: Reasons for Repurchase and Cancellation - The repurchase is based on the failure to meet performance assessment conditions outlined in the incentive plan, which required specific financial metrics for the year 2024 [5]. - Three incentive plan participants have retired and no longer qualify for the incentive program, leading to the repurchase of their unvested shares [6]. Group 2: Details of the Repurchase - The repurchase involves 124 incentive plan participants and will result in the cancellation of all remaining restricted shares, leaving a total of 0 shares post-cancellation [8]. - The company has set up a dedicated securities account for the repurchase and expects to complete the cancellation by August 21, 2025 [9]. Group 3: Compliance and Legal Opinions - The board confirms that the decision-making process and information disclosure comply with relevant laws and regulations, ensuring no harm to the rights of incentive participants or creditors [10]. - A legal opinion has been obtained confirming that the repurchase has received necessary approvals and does not violate any legal provisions [11].