金海通（603061）公告，公司将回购专用证券账户中库存股中133.32万股的用途进行变更，由原用 途"为维护公司价值及股东权益，公司所回购股份将按照相关规定采用集中竞价交易方式出售"变更 为"用于实施员工持股计划"。公司于2024年4月22日完成回购，已实际回购公司股份242.4万股，占公司 总股本的4.04%，回购最高价格74.98元/股，回购最低价格60.21元/股，回购均价68.46元/股，使用资金 总额1.66亿元(不含交易费用)。 ...

Core Viewpoint - Company Shanying International (600567.SH) is demonstrating confidence in the market by announcing a share buyback plan, aiming to enhance its stock price and support employee stock ownership plans [1][2]. Group 1: Share Buyback Announcement - Shanying International plans to repurchase shares using its own and self-raised funds through centralized bidding, with a total buyback amount between 5 billion and 10 billion yuan [1]. - The buyback price will not exceed 2.50 yuan per share, which is 35.87% higher than the current market price of 1.84 yuan per share [1]. Group 2: Financial Performance and Historical Context - Since its listing in 2001, Shanying International has experienced two years of losses, with a significant loss of 15 billion yuan in 2022 due to goodwill impairment from previous acquisitions [2]. - The company made high-premium acquisitions in 2017 and 2018, which initially boosted profits but later led to substantial losses when the acquired companies underperformed [2]. Group 3: Recent Operational Developments - In 2023 and 2024, Shanying International reported revenues of 293.3 billion yuan and 292.3 billion yuan, with net profits of 1.56 billion yuan and a loss of 4.51 billion yuan, respectively [3]. - The company is adjusting its overseas strategy and has seen a 6.71% increase in raw paper production to 7.24 million tons in 2024, with sales up by 8.03% to 7.32 million tons [3]. - As of the first quarter of 2025, Shanying International's total assets were 539.7 billion yuan, with a debt ratio of 68.76%, down from 71.37% the previous year [3].

Group 1 - The company aims to protect the legal rights of shareholders, employees, and creditors while regulating its organization and behavior according to relevant laws [2][3] - Ningxia Building Materials Group Co., Ltd. is established as a joint-stock limited company in accordance with the Company Law and other relevant regulations [2] - The company has a registered capital of RMB 478.181042 million [3] Group 2 - The company's operational purpose is to adopt modern enterprise management systems and advanced management methods to maximize shareholder interests and achieve satisfactory economic benefits [5] - The company is engaged in various business activities, including cement production, mining, and technology import and export [5][6] Group 3 - The company issues ordinary shares, and all shares are of the same class with equal rights [6][7] - The total number of shares issued by the company is 478,181,042 [7] Group 4 - The company can increase capital through various methods, including issuing shares to unspecified objects or existing shareholders [9] - The company may reduce registered capital according to the Company Law and its articles of association [9] Group 5 - The company has established a Party Committee to lead and ensure the implementation of major decisions and policies [15] - The Party Committee is responsible for political education and ensuring alignment with the central government's directives [15] Group 6 - Shareholders have rights proportional to their shareholdings, including profit distribution and the right to participate in shareholder meetings [17][18] - The company must maintain a shareholder register to verify ownership and rights [16] Group 7 - The company must hold annual and temporary shareholder meetings, with specific procedures for calling and conducting these meetings [53][59] - Shareholder proposals must be submitted in writing and can be made by shareholders holding at least 1% of the shares [66]

Group 1 - The core point of the announcement is the approval of the unlocking conditions for the first lock-up period of the 2024 employee stock ownership plan, which will expire on June 27, 2025, with a total of 9,860,272 shares eligible for unlocking [1][2] - The meeting was held on June 25, 2025, via communication, with all three supervisors present, and the resolutions made were in compliance with relevant laws and regulations [1] - The voting results for the proposal were 2 votes in favor, 0 votes against, and 0 abstentions, with supervisor Chen Caixia abstaining from the vote [1] Group 2 - The proposal does not require submission to the company's shareholders' meeting for approval [2] - Further details regarding the employee stock ownership plan and the unlocking conditions are available on the Shanghai Stock Exchange website [2]

Core Viewpoint - The announcement details the upcoming expiration of the first lock-up period for Hisense Visual Technology Co., Ltd.'s 2024 employee stock ownership plan, confirming that the conditions for unlocking shares have been met [1][10]. Summary by Sections Employee Stock Ownership Plan Approval and Implementation - The employee stock ownership plan was approved on March 11, 2024, allowing for the acquisition of up to 29.0938 million shares, representing 2.23% of the company's total share capital [1][2]. - The first temporary stock transfer was completed on May 8, 2024, with 11,596,000 shares transferred to the plan's account [2]. - By June 27, 2024, a total of 26,684,081 shares had been transferred, accounting for 2.04% of the total share capital [2]. Unlocking Conditions and Performance Assessment - The first lock-up period will end on June 27, 2025, with 9,860,272 shares eligible for unlocking based on performance assessments [3][10]. - The plan's duration is 48 months, with shares unlocking in three phases based on performance metrics [4][5]. - The company's net profit for the 2024 fiscal year was reported at approximately 2.365 billion yuan, a 39% increase from 2022, meeting the performance target for the first lock-up period [6]. Individual Performance Evaluation - Individual performance assessments determine the unlocking ratio, with 374 participants achieving performance grades of S/A/B, allowing for a 100% unlocking ratio [8]. - Participants with a grade of C will have a 70% unlocking ratio, while those with a grade of D will not unlock any shares [7][8]. Post-Lock-Up Period Arrangements - After the first lock-up period, the management committee will either sell the unlocked shares or transfer them to individual accounts for personal management [9]. - The plan will adhere to market trading rules and relevant regulations from the China Securities Regulatory Commission and the Shanghai Stock Exchange [9]. Board and Supervisory Committee Approval - The board and supervisory committee approved the unlocking conditions and performance results on June 25, 2025, confirming compliance with the plan's regulations [10][21].

Core Viewpoint - The legal opinion issued by Zhejiang Tian Ce Law Firm confirms that Shanying International Holdings Co., Ltd. is qualified to implement its 2025 Employee Stock Ownership Plan (ESOP) in compliance with relevant laws and regulations [1][12]. Group 1: Company Qualification - Shanying International is a legally established joint-stock company under Chinese law, with its shares listed on the Shanghai Stock Exchange [2][4]. - The company holds a valid business license issued by the Market Supervision Administration of Ma'anshan City, with a registered capital of 4,470,565,176.00 yuan [2][4]. Group 2: Legality and Compliance of the ESOP - The law firm conducted a thorough review of the ESOP and confirmed that it adheres to the "Guiding Opinions" issued by the China Securities Regulatory Commission [5][12]. - The ESOP is based on voluntary participation, with no forced allocation of shares to employees, aligning with the principle of voluntary participation [5][12]. - The plan ensures that employees bear their own risks and that their rights are equal to other investors, complying with the risk-bearing principle [5][12]. Group 3: Legal Procedures for the ESOP - Shanying International has followed necessary legal procedures, including holding a staff representative meeting and board meeting to approve the ESOP draft [10][11]. - The company has disclosed relevant resolutions and opinions on designated information disclosure websites, fulfilling its information disclosure obligations [11][12]. Group 4: Information Disclosure - The company has announced the resolutions from the staff representative meeting, board meeting, and the ESOP draft on the designated information disclosure website, meeting the required disclosure obligations [12].

券法》"）、《关于上市公司实施员工持股计划试点的指导意见》（以下简称"《指 导意见》"）《上海证券交易所科创板上市公司自律监管指引第 1 号——规范运 作》（以下简称"《自律监管指引》"）等相关法律、法规及规范性文件和《南亚 新材料科技股份有限公司章程》（以下简称"《公司章程》"）的有关规定，对公 司《2025 年员工持股计划（草案）》（以下简称"《持股计划（草案）》"）进行了 核查，发表核查意见如下： 规定的禁止实施员工持股计划的情形；《持股计划（草案）》的内容符合《公司 法》、《证券法》《指导意见》《自律监管指引》等有关法律、法规及规范性文 件以及《公司章程》的规定，不存在损害公司及全体股东利益的情形。 引》及其他法律、法规、规范性文件规定的条件，符合本次员工持股计划规定的 参加对象的确定标准，其作为本次员工持股计划持有人的主体资格合法、有效， 亦不存在摊派、强行分配等方式强制员工参与本次员工持股计划的情形；公司不 存在向本次员工持股计划持有人提供贷款、贷款担保或任何其他财务资助的计划 或安排。 南亚新材料科技股份有限公司监事会 关于公司 2025 年员工持股计划（草案）的 核查意见 南亚新材料科技股份有 ...

Group 1 - The company announced the completion of the second lock-up period for its employee stock ownership plan, with the conditions for unlocking being met [1][3][6] - The total number of shares that can be attributed to the first grant of the employee stock ownership plan during the second lock-up period is 450,000 shares, which accounts for 0.13% of the company's total share capital [4][7] - The company achieved a net profit of 317,153,320.62 yuan for 2024, surpassing the performance target of 306 million yuan, resulting in a company-level attribution coefficient of 100% [6][8] Group 2 - The employee stock ownership plan consists of three phases of vesting, with the second phase's shares being unlocked after 24 months [5] - The personal performance assessment for the stock ownership plan resulted in 11 out of 13 participants achieving a performance level of "B" or above, allowing for full unlocking of their shares [7] - The company will adhere to market trading rules and regulations regarding stock trading during sensitive periods [8][9]

Core Viewpoint - The announcement details the completion and termination of the 2022 Employee Stock Ownership Plan (ESOP) of Changzhou Qianhong Biochemical Pharmaceutical Co., Ltd, highlighting the acquisition of shares by the company's general manager and board member Wang Ke, reflecting confidence in the company's future development [1][5]. Group 1: Share Acquisition Details - Wang Ke acquired 22 million shares through block trading, representing 1.72% of the company's total share capital [3][4]. - Prior to the acquisition, Wang Ke held 63,409,600 shares, which was 4.95% of the total share capital [2][4]. - After the acquisition, Wang Ke's total shareholding increased to 85,409,600 shares, or 6.67% of the total share capital [4]. Group 2: Employee Stock Ownership Plan - The 2022 ESOP was approved in August 2022, with 30 million shares transferred to the plan's dedicated account at a price of 4.83 yuan per share, totaling 144.9 million yuan [5][6]. - The lock-up period for the ESOP ended on September 5, 2023, and the plan was extended for an additional 12 months in August 2024 [6]. - As of June 25, 2025, all shares held under the ESOP were sold, with 22 million shares sold to Wang Ke and the remaining 8 million shares sold through centralized bidding [6][7]. Group 3: Compliance and Governance - The share acquisition complies with relevant laws and regulations, ensuring that the company's shareholding structure remains within listing requirements [4][6]. - The acquisition is expected to enhance the company's governance structure and stabilize management control, reflecting the management's confidence in the company's long-term value [4][6].

Core Viewpoint - The article discusses the challenges faced by Laiyifen, a leading snack company in China, particularly regarding its employee stock ownership plans and financial performance, while also highlighting the competitive landscape in the snack industry. Group 1: Employee Stock Ownership Plans - Laiyifen completed a share buyback plan, repurchasing 2.9054 million shares for a total of 30.2236 million yuan, intended for an employee stock ownership plan [1] - The company faced setbacks with its employee stock ownership plans, having previously failed to meet performance targets in 2022 and terminating its second plan in 2024 due to poor financial results [2][3] - The second plan's performance criteria were adjusted to a 3% revenue increase or a 20% net profit increase, but the company reported a 15.25% decline in revenue and a net loss of 75.27 million yuan for the year [2] Group 2: Financial Performance - In 2024, Laiyifen's revenue was 3.37 billion yuan, down 15.25% year-on-year, and it reported a net loss of 7.527 million yuan, marking a second consecutive year of declining revenue and profit [2] - The company's first quarter of 2024 saw revenue of 1.048 billion yuan, a decrease of 1.23%, and a net profit of 12.43 million yuan, down nearly 80% year-on-year [2] - Laiyifen's gross margin for 2024 was reported at 38.82%, the highest in the industry, exceeding the average by nearly 8 percentage points [6][7] Group 3: Competitive Landscape - The snack industry is witnessing a rise in volume snack brands, with companies like Mingming Hen Mang achieving significant growth, reporting 39.344 billion yuan in revenue and a net profit of 0.913 billion yuan in 2024 [5] - Laiyifen's management indicated that they would maintain strategic focus and not enter the volume snack market, despite the competitive pressure [6] - Other companies in the industry, such as Three Squirrels and Salted Fish, have successfully implemented employee stock ownership plans, while others like Good Idea and Qiaqia Foods have faced challenges [3][5] Group 4: Quality Control and Safety Issues - Laiyifen faced a food safety crisis when a consumer reported finding a foreign object in a product, prompting the company to initiate an internal investigation [10] - The company utilizes an outsourcing model for production, which poses challenges for quality control, necessitating a robust quality management system [11] - Laiyifen has implemented a comprehensive quality control system, including supplier selection and regular inspections, to mitigate risks associated with its outsourcing strategy [11]