TFE(SH:600237) Shang Hai Zheng Quan Bao·2025-10-21 18:36Core Viewpoint - The company, Anhui Tongfeng Electronics Co., Ltd., is implementing a buyback and cancellation of 0.50 million restricted stocks due to the departure of one incentive target from its 2023 restricted stock incentive plan, which disqualifies them from receiving the stocks [2][4]. Summary by Sections Buyback and Cancellation Reasons - The buyback and cancellation of restricted stocks is due to the departure of one incentive target who no longer meets the incentive conditions as per the company's incentive plan and relevant regulations [2][4]. Details of the Buyback - The decision for the buyback was approved during the 13th meeting of the 10th Board of Directors and the 10th Supervisory Board on August 21, 2025 [2]. - The company published a notice to creditors regarding the buyback on August 23, 2025, and no objections were raised during the 45-day public notice period [3]. Buyback Execution - The company plans to buy back a total of 0.50 million restricted stocks from the departing incentive target, leaving 189 remaining incentive targets and 8.908 million restricted stocks still outstanding [5]. - The buyback is expected to be completed by October 24, 2025, with necessary procedures for registration and disclosure to follow [6]. Changes in Share Structure - Post buyback, the company's share structure will be adjusted, with the final details to be confirmed by the China Securities Depository and Clearing Corporation [8]. Legal Compliance - The company assures that all procedures and disclosures related to the buyback comply with relevant laws and regulations, and it has taken necessary steps to inform the affected incentive target [8].