Shang Hai Zheng Quan Bao·2026-02-04 20:00Core Viewpoint - Longxin Semiconductor (Hefei) Co., Ltd. is implementing a buyback and cancellation of 286 shares of the first category of restricted stock due to not meeting performance targets for the 2024 stock incentive plan [2][5]. Group 1: Buyback and Cancellation Details - The buyback and cancellation of restricted stock is based on the company's failure to meet the performance threshold set for 2024, as per the relevant regulations [2][5]. - The decision for the buyback was approved during the board meetings held on November 21, 2025, and subsequently at the shareholders' meeting on December 8, 2025, with a buyback price set at 35.27 yuan per share [3][4]. - The company has opened a dedicated securities account for the buyback and plans to complete the cancellation by February 9, 2026 [6]. Group 2: Performance Metrics - In 2024, the company reported a gross margin of 55.48% and revenue of 466 million yuan, which represented a 44.21% increase from 2023, but did not meet the performance target required for the release of the restricted stock [5][6]. - The proportion of restricted stock that could be released based on the company's performance was 91.73%, indicating that a significant portion did not meet the necessary criteria for release [6]. Group 3: Legal and Compliance - The company has complied with the necessary legal procedures and disclosed information regarding the buyback, ensuring that the rights of the incentive recipients and creditors are not harmed [4][8]. - Legal opinions confirm that the buyback and cancellation process adheres to the Company Law, the Management Measures for Equity Incentives, and the company's articles of association [8].