Key Points - The company announced a share repurchase plan with a total expected amount between 200 million and 400 million yuan [1] - The repurchase period is set from January 2, 2025, to January 1, 2026 [1] - The maximum repurchase price is capped at 38.61 yuan per share [1] - The actual number of shares repurchased is 18,128,037, accounting for 8.1375% of the total share capital [1] - The actual repurchase amount reached approximately 399.96 million yuan, with a price range of 16.48 to 27.45 yuan per share [1][4] Repurchase Approval and Implementation - The board of directors approved the repurchase plan on January 1, 2025, using a combination of bank loans and self-raised funds [1][2] - The repurchase plan was executed without discrepancies from the original disclosure [4] - The company has completed the repurchase within the specified financial limits [4] Share Cancellation and Capital Reduction - The company plans to cancel 8 million shares from the repurchased stock, which will lead to a reduction in registered capital [2][5] - The company has followed the necessary procedures to notify creditors regarding the share cancellation [5] - No objections from creditors have been reported as of the announcement date [5] Shareholder Ownership Changes - Following the cancellation of shares, the controlling shareholder's ownership will increase to over 30%, which triggers specific regulatory exemptions [6][7] - The controlling shareholder and related parties will hold a total of 64,250,000 shares, representing a 29.9155% ownership stake post-cancellation [7] Future Plans for Repurchased Shares - The remaining 10,128,037 shares will be used for employee stock ownership plans or equity incentives in the future [7] - These shares will not have voting rights or profit distribution rights while held in the repurchase account [7]

Core Viewpoint - The legal opinion letter from Anhui Tianhe Law Firm confirms that Zhangjiagang Guoda Special Materials Co., Ltd. (Guoda Special Materials) is proceeding with a differentiated dividend distribution for the fiscal year 2024, in compliance with relevant laws and regulations [2][9]. Group 1: Differentiated Dividend Distribution - The differentiated dividend distribution is based on the company's decision to repurchase shares, which will not participate in profit distribution [5][8]. - The company plans to distribute a cash dividend of 3.75 RMB per 10 shares (including tax) to shareholders, with a total cash dividend amounting to approximately 76.48 million RMB (including tax) [5][6]. - The total share capital as of March 31, 2025, is 214,242,233 shares, with 10,306,697 shares in the repurchase account, resulting in an actual participating share capital of 203,935,536 shares [5][6]. Group 2: Share Repurchase and Legal Compliance - The company has approved a share repurchase plan using self-raised funds between 200 million RMB and 400 million RMB, with a maximum repurchase price of 26.22 RMB per share [4][5]. - The legal opinion confirms that the differentiated dividend distribution complies with the Company Law, Securities Law, and relevant regulations, ensuring no harm to the interests of the company and its shareholders [9]. - The impact of the differentiated dividend distribution on the ex-dividend reference price is minimal, with an absolute value change of less than 1% [7][8].

Core Viewpoint - The company has adjusted its 2024 annual profit distribution plan, increasing the cash dividend per share from 0.375 yuan (tax included) to 0.3825 yuan (tax included) due to an increase in the number of shares outstanding [1][2][3] Summary by Sections Adjustment Details - The cash dividend per share was adjusted from 0.375 yuan to 0.3825 yuan due to the issuance of an additional 4,857,100 shares [1][2] - As of the announcement date, the total share capital of the company is 215,114,294 shares, with 15,163,797 shares in the repurchase account, resulting in 199,950,497 shares eligible for distribution [1][3] Previous Profit Distribution Plan - The initial profit distribution plan approved on April 18 and May 12, 2025, proposed a cash dividend of 3.75 yuan for every 10 shares, totaling 76,475,826 yuan (tax included) [1][2] - The company will not issue bonus shares or convert capital reserves into share capital for this fiscal year [1] Reasons for Adjustment - From April 1 to June 3, 2025, the company issued 872,061 new shares through convertible bonds, increasing the total share capital from 214,242,233 shares to 215,114,294 shares [2] - The company repurchased an additional 4,857,100 shares during the same period, necessitating the adjustment of the profit distribution per share while keeping the total cash distribution amount unchanged [2][3] Final Profit Distribution Plan - The final profit distribution plan states that for every 10 shares, a cash dividend of 0.3825 yuan (tax included) will be distributed, resulting in a total profit distribution amount of 76,481,065.10 yuan (tax included) [3][4]

Group 1 - The core point of the article is that Zhongzhou Special Materials has experienced a significant stock price increase of 102.3% over a period of 10 trading days, indicating unusual market activity [1] - During this period, individual investors accounted for 80% of the total buying, with a total purchase amount of 14.57 billion yuan [1] - Among individual investors, small and medium-sized investors contributed 10.16 billion yuan, representing 55.8% of the total purchases [1] - Institutional investors purchased a total of 3.64 billion yuan, making up 20% of the buying activity [1]