JIANGSU TONGRUN(SZ:002150) Zheng Quan Zhi Xing·2025-08-25 16:31Core Viewpoint - Jiangsu Tongrun Equipment Technology Co., Ltd. announced the repurchase and cancellation of part of the restricted stock under the 2023 stock incentive plan due to the failure to meet the release conditions and the departure of certain incentive targets [1][12]. Summary by Sections Incentive Plan Overview - The company held board and supervisory meetings on August 22, 2025, to review the stock incentive plan and proposed adjustments to the repurchase price and cancellation of restricted stocks [1][12]. - The plan involves a total of 2,365,750 shares to be repurchased and canceled due to the departure of 3 incentive targets and 83 others not meeting the release conditions [1][9]. Approval Process - The plan underwent several approval steps, including meetings on July 17, 2023, and subsequent public disclosures regarding the incentive targets [2][3]. - The first grant of restricted stocks was completed on November 3, 2023, with 5.51 million shares granted at a price of 9.65 yuan per share [3][4]. Performance Conditions - The performance conditions for the release of the restricted stocks were not met, specifically regarding revenue and net profit targets for 2024 [8][9]. - The company needed to achieve a revenue of at least 400 million yuan and a net profit of at least 18 million yuan, which were not fulfilled [8][9]. Repurchase Details - The repurchase price for the restricted stocks was adjusted to 9.48 yuan per share, considering dividends paid [10][11]. - The total estimated cost for the repurchase is approximately 22.43 million yuan, funded by the company's own resources [11][12]. Impact on Share Capital - Following the repurchase, the company's total share capital will decrease from 363,234,553 shares to 360,868,803 shares, with the repurchased shares accounting for 0.65% of the total capital [12][12]. Compliance and Opinions - The board's remuneration and assessment committee, as well as the supervisory board, confirmed that the repurchase and cancellation comply with relevant regulations and will not adversely affect the company's financial status or operations [12][13].