Kinwong Electronics to cancel restricted stock, options

Shenzhen Kinwong Electronics (SSE:603228) announced plans to repurchase and cancel certain restricted shares and stock options. The board approved the repurchase and cancellation of 114,200 restricted shares, priced at 9.39 yuan per share, and the cancellation of 97,100 stock options. These actions are due to the departure of some incentive recipients. The repurchase will be funded from the company’s own capital. Following the cancellation, the company's share capital structure will be adjusted accordingly, with the number of restricted shares decreasing. The company stated the move will not have a significant impact on the company's financial status or operations, and that the repurchase and cancellation proceedings will be handled promptly.