一、董事会会议召开情况 广州三孚新材料科技股份有限公司（以下简称"公司"）于2025年9月17日以电子通讯等方式，向全体董 事发出了关于召开公司第四届董事会第二十一次会议的通知。本次会议于2025年9月22日在公司会议室 以现场结合通讯方式召开。会议应出席董事9名，实际出席董事9名，部分高级管理人员列席了本次会 议。本次会议由公司董事长、总经理上官文龙先生主持，本次会议的召集和召开符合《中华人民共和国 公司法》等有关法律、法规和《广州三孚新材料科技股份有限公司章程》《广州三孚新材料科技股份有 限公司董事会议事规则》的有关规定，会议决议合法、有效。 二、董事会会议审议情况 （一）审议通过《关于以集中竞价交易方式回购公司股份方案的议案》 基于对公司未来发展前景的信心和对公司长期投资价值的认可，同时有效地将股东利益、公司利益和员 工个人利益紧密结合在一起，更好地推进"提质增效重回报"行动，以促进公司稳定、健康、可持续发 展，董事会同意公司以集中竞价交易方式回购公司股份，回购股份将在未来适宜时机全部用于员工股权 激励或员工持股计划，回购资金总额不低于人民币1,000万元（含），不超过人民币1,500万元（含）， 回购 ...

赢合科技（维权）于2025年9月19日发布公告，宣布此前计划的股份回购已实施完成。此次回购旨在用 于员工股权激励，对公司的长远发展具有积极意义。 回购计划回顾 回购合规性及后续安排 公司回购股份严格遵守相关规定，未在禁止时间进行回购，且集中竞价交易符合委托价格、交易时段等 要求。本次回购股份拟用于股权激励计划，实施前存放于回购专用证券账户，暂不享有相关权利，不得 质押和出借。后续公司将依规适时安排并披露。 2025年1月23日，赢合科技第五届董事会第十五次会议、第五届监事会第十一次会议审议通过回购议 案，决定使用自有资金和/或自筹资金，以集中竞价交易方式回购部分已发行的人民币普通股（A股）股 票，用于员工股权激励。回购资金总额不低于10,000万元（含）且不超过20,000万元（含），回购价格 不超过28.94元/股（含）。实施期限为自董事会审议通过之日起8个月内。2025年8月5日，因2024年年 度权益分派实施完成，回购股份价格上限调整为不超过28.82元/股。 回购实施情况首次回购：2025年2月28日，公司首次通过回购专用证券账户以集中竞价交易方式回购股 份980,000股。持续披露：在回购期间，公司 ...

Core Viewpoint - The company plans to repurchase its shares from the open market until December 31, 2025, using available cash reserves and free cash flow for the buyback program [1] Group 1 - The share repurchase program is intended to support future employee equity incentives [1] - The funding for the share buyback will not involve proceeds from the company's global share offering [1]

Core Viewpoint - The company, Bruker (00325), announced a share buyback plan that will last until December 31, 2025, utilizing available cash reserves and free cash flow for funding [1] Group 1: Share Buyback Plan - The board of directors has been authorized to repurchase shares up to 10% of the total issued shares as of June 6, 2025, which amounts to a maximum of 24.925 million shares [1] - The buyback shares will be used for future employee equity incentives [1] Group 2: Funding Sources - The funding for the share buyback will come from the company's existing cash reserves and free cash flow, explicitly excluding proceeds from the global share offering [1]

浙江天册律师事务所 关于 爱柯迪股份有限公司 发行股份及支付现金购买资产并募集配套资金的 补充法律意见书（三） 浙江省杭州市杭大路 1 号黄龙世纪广场 A 座 11 楼邮编 310007 电话：0571-87901111 传真：0571-87901500 补充法律意见书（三） 浙江天册律师事务所 关于爱柯迪股份有限公司 发行股份及支付现金购买资产并募集配套资金的 补充法律意见书（三） 编号：TCYJS2025H1224 号 致：爱柯迪股份有限公司 根据《公司法》《证券法》《重组管理办法》《监管指引9号》《注册管理 办法》《格式准则26号》及《上市规则》等法律、法规以及规范性文件的有关规 定，浙江天册律师事务所接受委托，担任爱柯迪股份有限公司通过发行股份及支 付现金方式购买资产并募集配套资金（以下简称"本次交易"）事项的专项法律 顾问，并已就本次交易事项出具了 TCYJS2025H0534号《浙江天册律师事务所关 于爱柯迪股份有限公司发行股份及支付现金购买资产并募集配套资金的法律意 见书》（以下简称《法律意见书》）、TCYJS2025H0730号《浙江天册律师事务 所关于爱柯迪股份有限公司发行股份及支付现金购买 ...

Core Viewpoint - Yanghe Co., Ltd. has maintained its position as the third-largest company in the liquor industry since 2010, but this ranking is expected to change in 2024 as it faces declining revenue and profit, becoming the only company among the top five in A-share liquor listings to experience such declines [6][10]. Group 1: Leadership Changes - On July 1, 2024, Yanghe announced the resignation of Chairman Zhang Liandong, who stepped down from multiple positions within the company, with the reason cited as "work adjustment" [2][3]. - Zhang Liandong had been in the role since February 2021 and oversaw a period of growth, with revenue reaching 331.26 billion yuan in 2023 [5][6]. Group 2: Financial Performance - Yanghe's revenue and net profit both declined in 2024, with net profit dropping to 6.666 billion yuan, lower than the 7.513 billion yuan recorded in 2021 [6]. - The company’s revenue ranking fell from third to fifth among A-share liquor companies, and its net profit ranking also dropped from fourth to fifth [6]. - The liquor industry has entered a phase of intense competition, with Yanghe's mid-range and premium products facing significant pricing pressure [7]. Group 3: Strategic Adjustments - In response to market challenges, Yanghe has implemented a "dual-name liquor, multiple brands, and multiple categories" strategy to enhance its brand positioning and increase marketing investments [8]. - Despite increased marketing expenditures, Yanghe's mid-to-high-end liquor revenue declined by 14.79% in 2024 [9]. - The company’s sales expense ratio rose from 12.3% in 2021 to 19.1% in 2024, indicating a potential inefficiency in marketing investments compared to competitors [8]. Group 4: Employee Incentives - Yanghe introduced its first employee stock ownership plan in August 2021, aimed at incentivizing core staff with a target of achieving a 15% revenue growth in 2021 and 2022, which was successfully met [12][13]. - However, the stock price has significantly declined since the plan's initiation, leading to potential losses for employees who participated in the plan [14][15]. Group 5: Future Outlook - The new chairman, Gu Yu, is expected to focus on developing high-priced flagship products to enhance market competitiveness [18]. - Industry experts suggest that the performance of liquor companies is more influenced by economic cycles than by the identity of the chairman [18].

Core Viewpoint - Suzhou Nanwei Technology Co., Ltd. has announced the adjustment of the implementation subject for granting employee stock ownership platform shares to incentivize high-end talent and core employees [1][2][3] Group 1: Granting Employee Stock Ownership - The company plans to grant a total of 1,817,848.42 yuan worth of shares, corresponding to 3,289,440 shares, to 26 incentive targets [1] - The original holding platform subjects, Suzhou Nayan and Suzhou Nazhuo, faced limitations due to the number of partners, leading to the establishment of a new partnership, Suzhou Industrial Park Nayu Management Consulting Partnership [2] Group 2: Impact of Adjustments - The adjustment of the implementation subject for granting employee stock ownership will not have a substantial impact on the company's financial status and operating results [2] - The adjustment complies with relevant laws and regulations and does not harm the interests of the company and its shareholders [2][3] Group 3: Review Procedures and Opinions - The adjustment was approved during the third board meeting held on June 30, 2025 [2] - The Compensation and Assessment Committee confirmed that the adjustment aligns with the Shanghai Stock Exchange's regulations and the revised employee stock ownership plan [2] - The Supervisory Board also agreed that the adjustment followed the necessary review and disclosure procedures, ensuring no harm to shareholder interests [3]

Core Viewpoint - Hefei Qizhong Technology Co., Ltd. plans to repurchase its shares through centralized bidding, with a total repurchase amount ranging from RMB 75 million to RMB 150 million, utilizing over-raised funds, self-owned funds, and a special loan from CITIC Bank [1][5][15] Summary by Sections Repurchase Plan - The repurchase amount is set between RMB 75 million and RMB 150 million [1][5] - The funding sources include over-raised funds, self-owned funds, and a special loan from CITIC Bank [1][5] - The maximum repurchase price is capped at RMB 16.61 per share, which is 150% of the average trading price over the last 30 trading days prior to the board's decision [4][8] - The repurchase will be conducted via centralized bidding on the Shanghai Stock Exchange [4][6] Implementation Procedures - The proposal was initiated by the general manager, Yang Zongming, and approved by the board with unanimous consent [2][3] - The repurchase period is set for 12 months from the board's approval date [4][5] - The repurchase is intended for employee stock ownership plans or equity incentive programs [4][5] Financial Impact - The repurchase is expected to involve approximately 451,540 to 903,070 shares, representing 0.38% to 0.76% of the total share capital [5][7] - The total amount of RMB 150 million represents 2.48% of the company's current liquid assets [9] Shareholder Considerations - Major shareholders, including Hefei Qizhong Holdings Co., Ltd. and others, have no plans to reduce their holdings in the next three to six months [4][10] - The board's decision does not require shareholder approval, as it meets the necessary quorum [3][15] Future Plans - The repurchased shares will be used for employee stock ownership plans or equity incentives, with a commitment to disclose any changes in plans or shareholding [12][14] - The company will ensure compliance with legal requirements regarding the repurchase and potential cancellation of untransferred shares [12][14]

Core Viewpoint - The recent turmoil surrounding GAC Aion is primarily driven by employee concerns regarding the employee stock ownership plan, with the company actively working to dispel rumors and clarify its position on the matter [1][3][4]. Group 1: Company Response and Clarification - GAC Aion has publicly denied rumors about employees facing significant financial losses due to stock valuation drops, asserting that operations are normal and the employee stock incentive plan is proceeding as planned [3][4]. - The chairman of GAC Group, Feng Xingya, emphasized that no executives have withdrawn or refunded their investments, and the company is committed to fulfilling its obligations under the stock incentive agreements [4]. - GAC Group clarified that seeking capital operations is aimed at enhancing organizational vitality, not relying on capital markets for funding [6]. Group 2: Employee Stock Ownership Plan and Concerns - The employee stock ownership plan involved 679 employees and 115 researchers, with a total investment of 1.782 billion yuan, representing a 4.55% stake in GAC Aion, locked for five years [7]. - Employees were provided loans to purchase shares, raising concerns about their financial capacity and the risks associated with high leverage in stock purchases [7][9]. - The company acknowledged the situation where employees are worried about the potential inability to exit their investments, especially with the stock lock-up period extending until 2027 [10][12]. Group 3: Market Performance and Future Outlook - GAC Aion's sales peaked at 480,000 units in 2023 but are projected to decline to 374,900 units in 2024, a year-on-year decrease of 21.9% [9]. - The company is exploring various exit mechanisms for employees, including potential dividends and acquisitions, rather than solely relying on an IPO [12]. - The current market conditions and the cooling of the capital market have led GAC Group to believe that now is not the optimal time for an IPO, indicating a need for a more cautious approach to capital and investment strategies [12].

Core Viewpoint - Hefei Qizhong Technology Co., Ltd. plans to repurchase its issued A-shares through centralized bidding, with a total repurchase amount ranging from RMB 75 million to RMB 150 million, aimed at employee stock ownership plans or equity incentives [1][2][3] Group 1: Repurchase Plan Details - The repurchase amount will not be less than RMB 75 million and not exceed RMB 150 million [2][3] - The funding sources for the repurchase include over-raised funds, self-owned funds, and a special loan from CITIC Bank [2][7] - The maximum repurchase price is set at RMB 16.61 per share, which is 150% of the average trading price over the last 30 trading days prior to the board's decision [2][6] Group 2: Implementation and Approval Process - The proposal was initiated by the general manager, Yang Zongming, and approved by the board with a unanimous vote [1][2] - The repurchase will be conducted through the Shanghai Stock Exchange trading system within 12 months from the board's approval date [2][4] - The board meeting that approved the repurchase plan met the requirements of the company's articles of association and relevant regulations [2][3] Group 3: Purpose and Impact of the Repurchase - The repurchase aims to enhance employee motivation, establish a long-term incentive mechanism, and strengthen investor confidence [3][10] - The expected repurchase volume is between 451,540 to 903,070 shares, representing 0.38% to 0.76% of the total share capital [4][6] - The repurchase is not expected to significantly impact the company's operations, finances, or future development [8][14] Group 4: Shareholder and Management Plans - Major shareholders and management have no plans to reduce their holdings in the next three to six months [2][9] - The proposal aligns with the company's commitment to investor interests and sustainable development [10][11] Group 5: Regulatory Compliance and Risk Management - The repurchase plan complies with relevant laws and regulations, and the company will ensure timely disclosure of any developments [12][14] - The company has established measures to protect creditor interests and ensure that the repurchase does not lead to insolvency [12][14]