SMHC(SH:600131) Zheng Quan Zhi Xing·2025-08-27 09:20Core Viewpoint - The legal opinion letter addresses the repurchase and cancellation of unvested restricted stock options by State Grid Information Communication Co., Ltd. as part of its 2021 stock incentive plan, along with adjustments to the repurchase price [3][9]. Group 1: Repurchase and Cancellation Details - The company plans to repurchase and cancel a total of 1,369,375 shares of restricted stock, which accounts for 25% of the total granted restricted stock options [6][8]. - The repurchase is due to the failure to meet the performance targets for the third vesting period, with the actual net asset return rate being 10.61% against a target of 14.8% [6][8]. - The repurchase price for the restricted stock has been adjusted from 9.25 CNY per share to 8.67172 CNY per share following dividend distributions [7][8]. Group 2: Approval and Compliance - The repurchase and cancellation have received necessary approvals from the company's board of directors, in accordance with relevant laws and regulations [5][9]. - The company is required to fulfill its information disclosure obligations and follow legal procedures for capital reduction and share cancellation [9]. Group 3: Financial Implications - The total amount for the repurchase is calculated based on the adjusted price and the number of shares being repurchased [8]. - The company's share structure will change post-repurchase, with restricted shares decreasing from 3,819,270 to 2,449,895 [8].