Sangfor Technologies (SZ:300454) Zheng Quan Zhi Xing·2025-08-21 16:48Core Viewpoint - The company plans to cancel 1,255,715 repurchased shares and reduce its registered capital, which requires approval from the shareholders' meeting [1][2]. Group 1: Share Repurchase Overview - The company initiated a share repurchase plan on March 18, 2022, with a total fund allocation between RMB 100 million and RMB 200 million, aimed at employee stock ownership and incentive plans [1][2]. - As of March 1, 2023, the company has repurchased a total of 1,255,715 shares, representing approximately 0.30% of the total share capital, with a maximum price of RMB 114.29 per share and a minimum price of RMB 80.76 per share [2]. Group 2: Reasons for Share Cancellation and Future Arrangements - The cancellation of repurchased shares is due to the expiration of the holding period, and the company currently has no plans to use these shares for employee incentives or stock ownership [2]. - The board's decision to cancel the shares requires further approval from the shareholders' meeting, which will also authorize management to handle the necessary procedures [2]. Group 3: Changes in Total Share Capital - Following the cancellation, the total share capital will decrease from 421,881,556 shares to 420,625,841 shares, with the proportion of locked shares slightly increasing from 34.04% to 34.14% [3]. Group 4: Impact of Share Cancellation - The cancellation of shares complies with relevant laws and regulations and is not expected to significantly impact the company's debt obligations, ongoing operations, or shareholder equity [4].