Core Viewpoint - Shanghai Baoxin Software Co., Ltd. is conducting a buyback and cancellation of part of its restricted stock under the third phase of its stock incentive plan due to unmet performance targets for 2024, affecting 898 incentive participants and totaling 13,025,056 shares [1][2][3]. Summary by Sections Buyback and Cancellation Details - The company will repurchase a total of 13,025,056 shares of restricted stock due to the failure to meet the 2024 performance assessment targets, which include net profit compound growth rate and cash profit content [1][2]. - The repurchase price is set at 14.1875 yuan per share, which is the lower of the grant price or the market price at the time of repurchase [2][3]. Performance Assessment - The performance indicators for 2024, specifically the compound growth rate of net profit and cash profit content, did not meet the required standards, leading to the cancellation of the corresponding restricted stocks [2][3]. Legal Compliance - The legal opinion confirms that the buyback and cancellation of restricted stocks comply with relevant laws and regulations, including the company's stock incentive plan [3]. - The decision-making process for the buyback has been duly followed, ensuring that all necessary procedures and authorizations are in place [3].