Xiamen Jihong Technology (SZ:002803) Shang Hai Zheng Quan Bao·2025-09-26 18:18Core Viewpoint - The company has completed the repurchase and cancellation of 2,274,000 restricted stocks from its 2023 incentive plan due to unmet performance targets and the departure of certain incentive recipients [2][11][12]. Summary by Sections Repurchase and Cancellation Details - The repurchased stocks represent 0.5910% of the company's total A-share capital before the repurchase, which was 384,769,288 shares [2][13]. - The repurchase price was set at 8.8120 CNY per share, totaling 20,038,488 CNY funded by the company's own resources [2][15]. - Following the cancellation, the total A-share capital will decrease to 382,495,288 shares [2][16]. Reasons for Repurchase - The repurchase was necessitated by the failure to meet the performance assessment criteria for the 2024 fiscal year, where the net profit from the cross-border e-commerce business dropped by 68.87% compared to 2022, failing to meet the required growth rate of 21% [11]. - Additionally, seven incentive recipients left the company, leading to the cancellation of their stock options [11][12]. Approval Process - The company held multiple board and shareholder meetings to approve the repurchase and related amendments to its articles of association [3][6][10]. - Legal opinions were provided by Beijing Kangda Law Firm regarding the repurchase and its compliance with relevant laws [10][11]. Impact on Company Structure - After the repurchase, the number of unvested restricted stocks will be reduced from 4,134,000 to 1,860,000 [16]. - The company asserts that this action will not adversely affect its financial status or operational results, nor will it harm the interests of the company and its shareholders [16]. Future Actions - The company will proceed with the necessary legal and regulatory filings to update its registered capital and amend its articles of association following the completion of the stock repurchase [16].