Secote co.ltd(SH:603283) Shang Hai Zheng Quan Bao·2025-11-19 18:51Core Points - The company, Suzhou Saiteng Precision Electronics Co., Ltd., has decided to repurchase and cancel 4,129,580 shares related to its first employee stock ownership plan due to unmet performance targets [2][6] Group 1: Repurchase and Cancellation Details - The decision to repurchase and cancel shares was made during a series of meetings held on August 28, 2025, and was approved by the board and supervisory committee [3] - The company disclosed the repurchase plan on September 16, 2025, fulfilling the creditor notification requirements [4] - The employee stock ownership plan had a duration of 36 months, with a 12-month lock-up period, and was based on specific performance metrics [5] Group 2: Performance Metrics and Financial Impact - The performance targets for the employee stock ownership plan were based on a net profit growth rate of at least 15% for 2024, calculated from the 2023 net profit excluding non-recurring gains and losses [5][6] - The audited net profits for 2023 and 2024 were approximately 756.57 million yuan and 640.82 million yuan, respectively, which did not meet the required growth rate [6] - The cancellation of shares will not lead to changes in the controlling shareholder or the actual controller, nor will it have a significant impact on the company's operational performance or financial condition [8]