Highton Development(SH:603162) Zheng Quan Zhi Xing·2025-08-22 13:17Core Viewpoint - The company, Fujian Haitong Development Co., Ltd., has announced the repurchase and cancellation of certain restricted stocks and stock options as part of its incentive plans for 2023, 2024, and 2025, due to the departure of certain incentive targets and performance issues. Summary by Relevant Sections 1. Repurchase and Cancellation Details - The total number of restricted stocks to be repurchased and canceled is 302,600 shares, which includes 103,600 shares from the 2023 incentive plan, 35,000 shares from the 2024 plan, and 70,000 shares from the 2025 plan [1][2][13]. - The repurchase prices for the restricted stocks are set at RMB 5.6162 per share for 2023, RMB 4.85 for 2024, and RMB 4.11 for 2025 [2][16]. 2. Stock Options Cancellation - A total of 164,000 stock options will be canceled, including 35,000 from the 2024 plan and 35,000 from the 2025 plan [2][14]. 3. Approval Procedures - The board of directors approved the repurchase and cancellation plans during the 29th meeting of the fourth board on August 22, 2025, following the necessary authorizations from previous shareholder meetings [3][6]. 4. Reasons for Repurchase and Cancellation - The repurchase and cancellation are due to the departure of incentive targets and performance evaluations not being met, as per the company's incentive management regulations [13][14][15]. 5. Financial Impact - The repurchase will be funded by the company's own funds, with specific amounts allocated for each plan: RMB 58,180 for 2023, RMB 169,750 for 2024, and RMB 287,700 for 2025 [13][15][16]. - The total number of shares with limited sale conditions will decrease to 649,382,032 shares after the repurchase [16]. 6. Legal and Compliance Opinions - Legal opinions confirm that the repurchase and cancellation comply with relevant laws and regulations, ensuring no harm to the interests of the company and its shareholders [18][19].