Shang Hai Zheng Quan Bao·2025-10-21 19:25Core Points - The company has decided to repurchase and cancel 40,000 shares of restricted stock due to a violation of laws and regulations by one of the incentive plan participants, resulting in the termination of their employment [1][2][3] - The total repurchase price for the canceled shares amounts to RMB 249,200 [1][3] - The company will recover the corresponding cash dividends for the repurchased shares [1] Summary by Sections Repurchase and Cancellation Details - The decision for the repurchase and cancellation was approved during the board and supervisory meetings held on August 27, 2025 [1][2] - The repurchase is based on the company's incentive plan, which stipulates that shares granted to individuals who violate laws or company policies must be canceled [2][3] - After the cancellation, the remaining shares under the incentive plan will total 140,000 [3] Legal and Compliance - The company has fulfilled the necessary legal procedures for notifying creditors regarding the repurchase [2] - The board confirmed that the decision-making process and disclosures comply with relevant laws and regulations [4] Impact on Share Structure - Following the repurchase, the company's share structure will be adjusted, but the final results will be confirmed by the securities registration company [3] - The repurchase will not significantly impact the company's financial status or operational results [4] Convertible Bond Information - The repurchase of restricted shares will not lead to an adjustment in the conversion price of the company's convertible bonds, which remains at RMB 41.71 per share [6][10] - The company issued 40 million convertible bonds in May 2022, with an initial conversion price of RMB 43.94 per share [6]