Shennong Group(SH:605296) Zheng Quan Zhi Xing·2025-08-25 16:35Core Viewpoint - The company, Yunnan Shennong Agricultural Industry Group Co., Ltd., announced the repurchase and cancellation of a total of 274,594 restricted stocks due to various reasons including employee departures and unmet performance criteria [1][4][5]. Summary by Sections Repurchase and Cancellation Reasons - The repurchase and cancellation of restricted stocks are based on the "Management Measures for Equity Incentives of Listed Companies" and the company's "2022 Restricted Stock Incentive Plan (Revised)" [1]. - A total of 8 initial incentive recipients lost their qualification due to resignation, leading to the cancellation of 37,050 shares [3]. - 48 initial incentive recipients did not meet the 2024 personal performance assessment requirements, resulting in the cancellation of 136,344 shares [1][4]. - 23 reserved incentive recipients also lost their qualification due to resignation, leading to the cancellation of 51,500 shares [1][4]. - One reserved incentive recipient passed away, resulting in the cancellation of 1,500 shares [1][4]. - 57 reserved incentive recipients did not meet the performance criteria, leading to the cancellation of 48,200 shares [1][4]. - In total, 274,594 shares are to be repurchased and canceled [1][4]. Details of the Repurchase - The decision for the repurchase was approved in meetings held on April 25, 2025, with a repurchase price set at 13.72 yuan per share [2][5]. - The total amount involved in the repurchase is approximately 3.7674 million yuan, funded entirely by the company's own resources [5]. - The repurchase involves 56 initial incentive recipients and 81 reserved incentive recipients [5]. Changes in Share Structure - Before the repurchase, the total number of shares was 524,839,012, with 524,564,418 shares having no restrictions [6]. - After the repurchase, the total number of shares will be reduced to 524,564,418, with all restricted shares canceled [6]. Legal Compliance and Commitments - The company confirmed that the decision-making process and information disclosure comply with relevant laws and regulations [6][7]. - The company has committed to bearing any legal responsibilities arising from disputes related to the repurchase [7]. - Legal opinions from Beijing Deheng (Kunming) Law Firm affirm that the repurchase has received necessary approvals and complies with applicable laws [7].