SANYUAN(SH:600429) Shang Hai Zheng Quan Bao·2025-11-04 19:57Core Viewpoint - The company is implementing a buyback and cancellation of restricted stock due to unmet performance targets and changes in the eligibility of certain incentive recipients [2][5]. Group 1: Reasons for Buyback and Cancellation - The buyback and cancellation of 7,086,978 shares of restricted stock is due to the failure to meet performance assessment targets for the second unlock period of the stock incentive plan [2][5]. - The company will repurchase shares from 167 incentive recipients, with some losing eligibility due to retirement, job changes, or resignations [2][5][7]. Group 2: Details of the Buyback - The buyback price for the restricted stock has been adjusted from 3.002 yuan per share to 2.941 yuan per share, based on the company's profit distribution plan [3]. - The total number of shares to be repurchased includes 580,931.7 thousand shares from those who did not meet performance conditions, 72.3331 thousand shares from retirees or those who changed jobs, and 55.4330 thousand shares from those who resigned [3][5]. Group 3: Impact on Share Structure - Following the buyback, the company's total share capital will decrease from 1,509,176,043 shares to 1,502,089,065 shares, reflecting a reduction of approximately 0.47% of the total share capital [5][8]. Group 4: Legal Compliance and Commitments - The company has confirmed that the decision-making process and information disclosure related to the buyback comply with relevant laws and regulations, ensuring no harm to the rights of incentive recipients or creditors [8][9]. - A legal opinion confirms that the buyback has received necessary approvals and adheres to the relevant management regulations and incentive plan [9].