Zheng Quan Zhi Xing·2025-08-27 11:12Core Viewpoint - The company has decided to repurchase and cancel 40,000 shares of restricted stock from an incentive plan due to the violation of regulations by one of the incentive recipients, resulting in the termination of their employment [2][10][15]. Summary by Sections Announcement of Repurchase - The company announced the repurchase and cancellation of 40,000 shares of restricted stock from the 2020 A-share incentive plan, with a total repurchase price of RMB 249,200 [2][10]. - The decision was made during the seventh board meeting and requires further approval from the shareholders' meeting [2][10]. Background of the Incentive Plan - The 2020 A-share restricted stock incentive plan was approved by the board and shareholders, with independent directors providing consent [2][3]. - The plan included a public disclosure of the incentive recipients, which was conducted without any objections during the public comment period [3][4]. Details of the Repurchase - The repurchase is due to the termination of employment of one incentive recipient for legal violations, making them ineligible for the incentive [10][15]. - The repurchased shares represent 0.0017% of the company's total shares prior to the repurchase [10]. Financial Impact - The repurchase will be funded by the company's own funds and is not expected to have a substantial impact on the company's financial status or operational results [11][15]. - The board's compensation committee and the supervisory board have both reviewed and approved the repurchase, confirming its compliance with relevant regulations [15][16]. Changes in Share Capital Structure - Following the repurchase, the company's share capital structure will reflect a decrease in restricted shares and an increase in unrestricted shares [11][13].