ZBJT(SZ:000759) Xin Lang Cai Jing·2025-08-26 13:19Core Viewpoint - Zhongbai Holding Group Co., Ltd. announced the repurchase and cancellation of 111,000 restricted stocks due to the disqualification of 7 incentive targets [1][3]. Summary by Sections Repurchase and Cancellation Process - The repurchase and cancellation process began in 2022, with multiple board meetings and approvals leading to the final decision in 2025 [2]. - Key dates include: - October 14, 2022: Board meeting approved the relevant proposals - November 29, 2022: Received preliminary consent from the Wuhan State-owned Assets Supervision and Administration Commission - April 24, 2025: Board approved the repurchase of 852,000 restricted stocks from 20 incentive targets [2]. Reasons and Details for Repurchase - The repurchase involves 7 incentive targets who are no longer qualified due to resignation, job adjustments, or death [3]. - The repurchase price is set at 3.00 CNY per share plus interest based on the People's Bank of China's benchmark deposit rate for 6 targets, while the price for the resigning target will be the lower of 3.00 CNY or the market price [3]. - The company plans to use its own funds for the repurchase [3]. Approval and Compliance - As of the issuance of the legal opinion, necessary approvals and internal decision-making processes have been completed, but the proposal still requires shareholder meeting approval and compliance with capital reduction and stock cancellation registration procedures [3].