Core Viewpoint - Nine Company Limited will cancel 6,000,000 repurchased depositary receipts, which represents 0.83% of the total depositary receipts before cancellation, reducing the total from 722,480,793 to 716,480,793 [2][6] Group 1: Repurchase and Cancellation Details - The cancellation of the repurchased depositary receipts is scheduled for September 17, 2025, following the approval of the board and shareholders [3][6] - The company initially planned to use the repurchased depositary receipts for employee incentive plans but has now adjusted the purpose to cancellation [3][6] - The total amount allocated for the repurchase was between RMB 300 million and RMB 500 million, with a maximum repurchase price of RMB 58 per receipt [3][4] Group 2: Approval Process and Historical Context - The company held board meetings and a shareholder meeting in August and September 2025 to approve the adjustment of the repurchase purpose [3][6] - In previous actions, the company had already canceled 8,000,000 depositary receipts in March 2024, adjusting their purpose from employee incentive plans to cancellation [4][5] Group 3: Impact of Cancellation - The cancellation is intended to protect investor interests and enhance investor confidence, while not affecting the company's debt obligations or financial performance significantly [7] - The action is also expected to improve returns for depositary receipt holders without harming the interests of small investors [7]
九号有限公司关于实施回购股份注销暨存托凭证变动的公告