Actions(SH:688049) Shang Hai Zheng Quan Bao·2025-09-01 19:53Core Viewpoint - The company has successfully implemented a share repurchase plan, utilizing excess funds to buy back shares for employee stock ownership plans or equity incentives, with adjustments made to the repurchase price limits over time [2][3][4]. Group 1: Share Repurchase Approval and Plan - The company approved a share repurchase plan on September 23, 2024, with a total fund allocation between RMB 22.5 million and RMB 45 million, and a maximum repurchase price of RMB 30.00 per share [2]. - On March 31, 2025, the company adjusted the maximum repurchase price to RMB 53.00 per share, while other aspects of the repurchase plan remained unchanged [3]. - Following the annual profit distribution and capital reserve conversion, the maximum repurchase price was further adjusted to RMB 44.02 per share, effective August 7, 2025 [3]. Group 2: Implementation of Share Repurchase - The company initiated its first share repurchase on April 1, 2025, and disclosed the details on April 2, 2025 [4]. - As of the announcement date, the company had repurchased 588,036 shares, accounting for 0.336% of the total share capital, with a total expenditure of approximately RMB 23.14 million [4]. - The repurchase was funded by excess funds from the company's initial public offering and did not significantly impact its operations or financial status [4]. Group 3: Shareholder Transactions During Repurchase Period - The company disclosed that from the announcement of the repurchase plan until the announcement date, there were transactions involving shares by major stakeholders, including a reduction of 1,461,364 shares by a significant shareholder [6][7]. Group 4: Share Changes and Handling of Repurchased Shares - The total share capital increased from 146,136,404 shares to 175,167,650 shares due to profit distribution and capital reserve conversion [7]. - The repurchased shares will be used entirely for employee stock ownership plans or equity incentives, and if not utilized within three years, the company will proceed with capital reduction procedures [8]. Group 5: Restricted Stock Incentive Plan - The company completed the registration of 93,019 shares under the 2024 restricted stock incentive plan, sourced from shares repurchased from the secondary market [13][19]. - The incentive plan underwent several approvals and adjustments, including changes to the grant prices and the number of shares available for vesting [16][18].