Zhejiang Xinao Textiles (SH:603889) Zheng Quan Zhi Xing·2025-09-02 16:14Core Viewpoint - Zhejiang Xin'ao Textile Co., Ltd. is implementing a partial repurchase and cancellation of restricted stocks as part of its 2023 incentive plan, which complies with relevant laws and regulations [2][7]. Group 1: Repurchase Cancellation Details - The repurchase cancellation is based on the incentive plan's provisions, allowing the company to repurchase stocks from individuals who do not meet performance criteria [4][5]. - A total of 8 individuals are involved in this repurchase cancellation, with the stocks expected to be repurchased by September 5, 2025 [5]. - The company has opened a dedicated securities account for the repurchase and submitted the necessary applications to the China Securities Depository and Clearing Corporation [5]. Group 2: Legal Compliance and Procedures - The legal opinion confirms that the repurchase cancellation adheres to the Company Law, Securities Law, and relevant regulations, and that necessary procedures have been followed [6][7]. - The company has fulfilled its information disclosure obligations regarding the repurchase, in accordance with legal requirements [6][7]. - The company must still complete the capital reduction and stock cancellation procedures as per the Company Law and its articles of association [7].