Core Viewpoint - Beijing Shougang Co., Ltd. has adjusted the repurchase price of restricted stock under its incentive plan following the completion of the 2024 profit distribution, which was approved at the 2024 annual general meeting [12][20]. Group 1: Board Meeting - The eighth eighteenth board meeting was held on June 27, 2025, with all eight directors participating [2][4]. - The board approved the adjustment of the repurchase price for restricted stock under the 2021 incentive plan, with a vote of 6 in favor and none against [4][24]. - The adjustment was necessary due to the completion of the 2024 profit distribution, which involved a cash dividend of 0.22 yuan per 10 shares [20][21]. Group 2: Supervisory Meeting - The eighth fifteenth supervisory meeting was also held on June 27, 2025, with all five supervisors participating [6][8]. - The supervisory board approved the same adjustment to the repurchase price of restricted stock, with a unanimous vote of 5 in favor [10][24]. - The supervisory board confirmed that the adjustment complies with relevant regulations and does not harm shareholder interests [24][25]. Group 3: Adjustment Details - The repurchase price was adjusted from 3.14 yuan per share to 3.118 yuan per share after accounting for the dividend distribution [21][22]. - The adjustment formula used was P = P0 - V, where P0 is the original repurchase price and V is the dividend per share [21][22]. - The adjustment is within the authority granted to the board and does not require further shareholder approval [22][23]. Group 4: Legal Opinion - The legal opinion confirms that the adjustment complies with the relevant laws and regulations, including the Company Law and the incentive plan [25][26]. - The necessary approvals and authorizations for the adjustment have been obtained [26].

Meeting Overview - The 21st meeting of the 6th Supervisory Board of Zhejiang Huayou Cobalt Co., Ltd. was held on June 11, 2025, with all three supervisors present, confirming the legality and validity of the meeting [2][3] Resolution Summary - The Supervisory Board approved the adjustment of the repurchase price for restricted stock, ensuring compliance with relevant laws and regulations, and confirming that the adjustment does not harm the interests of the company or its shareholders [2][3] - The Board also approved the repurchase and cancellation of 3,174,980 shares of restricted stock from the 2023 and 2024 incentive plans, affirming that this action complies with applicable regulations and does not affect the ongoing implementation of the incentive plans [3]