SHREG(SZ:000803) Zhong Guo Zheng Quan Bao - Zhong Zheng Wang·2025-09-03 22:57Core Viewpoint - The company, Shangao Environmental Energy Group Co., Ltd., has completed the repurchase and cancellation of 4,692,156 restricted stocks, accounting for 1.00% of the total share capital, due to unmet performance targets and the disqualification of certain incentive recipients [2][11][13]. Summary by Sections Repurchase Overview - The company held board and supervisory meetings on April 21, 2025, and May 14, 2025, to approve the repurchase and cancellation of restricted stocks due to unmet performance conditions and the departure of 12 incentive recipients [3][10]. - The total repurchase amount was 28,372,725.12 yuan, funded entirely by the company's own resources [2][17]. Approval Procedures and Implementation - The second phase of the restricted stock incentive plan was approved through various board and shareholder meetings starting from January 24, 2022, with legal opinions provided by Shanghai Jintiancheng Law Firm [4][5][6]. - Adjustments to the incentive plan were made in response to performance evaluations and changes in the list of incentive recipients [5][6][7]. Reasons for Repurchase - The repurchase was necessitated by the company's failure to meet performance targets, with a reported net profit of 5.2549 million yuan for 2024, which did not meet the set goals [11]. - Additionally, 12 incentive recipients were disqualified due to leaving the company, leading to the cancellation of their unvested stocks [12]. Repurchase Price and Quantity - The repurchase price for the first grant of restricted stocks was adjusted from 11.02 yuan to 6.03 yuan per share, while the reserved grant price was adjusted from 8.04 yuan to 6.11 yuan per share [15]. - The total number of stocks repurchased was 4,692,156, which included adjustments based on performance and disqualification of recipients [16][13]. Impact on Company Structure - Following the repurchase, the company's total share capital decreased from 470,988,309 shares to 466,296,153 shares [2][17]. - The repurchase and cancellation of stocks are not expected to significantly impact the company's financial status or operational results [17].