HHI(SH:601226) Zheng Quan Zhi Xing·2025-08-22 11:14Summary of Key Points Core Viewpoint The report discusses the repurchase and cancellation of restricted stocks by Huadian Technology Co., Ltd. and the adjustment of repurchase prices, emphasizing the compliance with relevant regulations and the impact on shareholders. Group 1: Repurchase and Cancellation of Restricted Stocks - The company plans to repurchase and cancel 261,800 shares of restricted stocks from 10 individuals due to retirement or termination of employment [7] - A total of 3,236,800 shares will be repurchased from 146 individuals as the performance targets for the third unlock period were not met [8] - The repurchase of restricted stocks was completed on February 28, 2023, and November 10, 2023, with the necessary approvals obtained from the board and supervisory committee [5][6] Group 2: Adjustment of Repurchase Prices - The adjusted repurchase price for the restricted stocks is calculated to be 2.34921 yuan per share after accounting for cash dividends [10] - The repurchase price for stocks not meeting performance targets will be based on the lower of the grant price or market price at the time of repurchase [10] - The adjustments to the repurchase price are in accordance with the company's stock incentive plan and relevant regulations [9][10] Group 3: Compliance and Approval Procedures - The independent financial advisor confirms that all necessary procedures for the repurchase and cancellation of restricted stocks have been followed, ensuring compliance with laws and regulations [10] - The company has disclosed all relevant information regarding the stock incentive plan to shareholders [2] - Independent opinions from the board and supervisory committee have been obtained for the related proposals [4][5]