Core Viewpoint - The company plans to change the purpose of its repurchased shares from employee stock ownership plans and equity incentives to cancellation for reducing registered capital, and will cancel a total of 3,728,955 shares, which will decrease the registered capital accordingly [1][4]. Group 1: Share Repurchase Overview - The company approved a share repurchase plan using its own or raised funds to buy back A-shares, with a total repurchase amount not less than RMB 50 million and not exceeding RMB 100 million, within a 12-month period [2]. - The company completed the repurchase of 1,954,204 shares from February 2, 2024, to April 1, 2024, accounting for 2.47% of the total share capital, with a total transaction amount of RMB 59.61 million [2][3]. - A subsequent repurchase plan was approved on July 18, 2024, allowing for the repurchase of up to 2 million shares, with a maximum price of RMB 50 per share [2]. Group 2: Changes in Share Repurchase Purpose - The purpose of the repurchased shares is being changed to cancellation to reduce registered capital, which aligns with the company's strategy to enhance shareholder value and investor confidence [3][4]. - After the cancellation of 3,728,955 shares, the total share capital will decrease from 115,849,275 shares to 112,120,320 shares [4]. Group 3: Impact of Share Cancellation - The change in the purpose of the repurchased shares and their cancellation complies with relevant regulations and will not adversely affect the company's operations, finances, or future development [4]. - The company's shareholding structure will remain compliant with listing requirements after the cancellation [4]. Group 4: Next Steps - The change in the purpose of the repurchased shares and their cancellation will require approval from the shareholders' meeting, and the board will seek authorization for the management to handle the cancellation procedures [5].
翔楼新材: 关于变更回购股份用途并注销的公告