TMT(SH:600458) Shang Hai Zheng Quan Bao·2026-01-13 18:55Core Viewpoint - The company, Zhuzhou Times New Material Technology Co., Ltd., is implementing a buyback and cancellation of 426,980 restricted stocks due to various reasons related to the eligibility of incentive plan participants [2][7]. Group 1: Reasons for Stock Buyback and Cancellation - The buyback is due to 26 incentive plan participants losing their eligibility because of job changes, retirement, death, or personal reasons, resulting in 426,980 shares being subject to cancellation [2][7]. - Specific reasons include: - 71,400 shares from 2 participants who were transferred to the controlling shareholder's units [4]. - 95,200 shares from 3 participants who retired and did not meet performance conditions [4]. - 33,500 shares from 1 participant who passed away [5]. - 50,000 shares from 1 participant who left for personal reasons [6]. - 166,980 shares from 17 participants who did not meet the 100% release ratio for the first release period [6]. Group 2: Stock Buyback and Cancellation Details - The decision for the buyback was approved in a board meeting held on July 16, 2025, and the announcement was made on July 17, 2025 [3]. - The total number of shares after the buyback will decrease from 931,180,500 to 930,753,520 [7][8]. - The buyback is expected to be completed by January 16, 2026, with necessary legal registrations to follow [8]. Group 3: Compliance and Legal Assurance - The company assures that the decision-making process and information disclosure comply with relevant laws and regulations, ensuring no harm to the rights of incentive participants or creditors [9]. - A legal opinion confirms that the buyback has obtained necessary approvals and adheres to applicable laws and regulations [10].