TFE(SH:600237) Xin Lang Cai Jing·2025-08-22 10:55Core Viewpoint - The report discusses the repurchase and cancellation of part of the restricted stock incentive plan by Anhui Tongfeng Electronics Co., Ltd. due to the departure of an incentive recipient, which aligns with the company's regulations and does not harm the interests of shareholders [3]. Summary by Sections Incentive Plan Review - On November 15, 2023, the 23rd meeting of the 9th Board of Directors of Tongfeng Electronics approved the draft of the stock incentive plan and related proposals, with independent directors providing their opinions [2]. - The 20th meeting of the Supervisory Board also approved the relevant proposals on the same day [2]. - From November 16 to November 25, 2023, the company publicly announced the list of proposed incentive recipients [2]. - On December 5, 2023, the company received approval from Anhui Xihu Investment Holding Group Co., Ltd. regarding the incentive plan [2]. - The third extraordinary general meeting of shareholders on December 28, 2023, approved the relevant proposals, and the board determined the grant date for restricted stocks on January 4, 2024 [2]. - The first grant results were disclosed on January 11, 2024 [2]. - On September 25, 2024, the board and supervisory board approved the repurchase and cancellation of part of the restricted stocks, which was completed on November 21, 2024 [2]. Details of Repurchase and Cancellation - The repurchase involved 0.50 million shares of restricted stock from one incentive recipient who left the company, accounting for 0.001% of the company's total share capital before the repurchase [3]. - The repurchase price was set at 3.91 yuan per share, based on the lower of the grant price or the average market price on the trading day before the board's decision announcement [3]. - The total amount for the repurchase was 19,550 yuan, funded entirely by the company's own funds [3]. - The independent financial advisor confirmed that the board's actions regarding the repurchase and cancellation complied with regulations and did not harm the interests of the company and its shareholders [3].