Jason Furniture to cancel restricted stock awards

Jason Furniture Hangzhou (SSE:603816) announced it will repurchase and cancel 320,000 restricted shares from former employees who no longer meet the incentive plan's requirements. The repurchase price is set at CNY 10.46 per share, adjusted from the initial grant price of CNY 11.84 due to the company's 2024 profit distribution. The total repurchase value is CNY 3,347,200, funded from Jason Furniture's own capital. The share cancellation will slightly alter the company's share structure, leaving 9,285,288 restricted shares, and 812,166,231 unrestricted shares. The company affirmed that this action will not materially impact its financial standing or management team's commitment. The company’s shareholders approved the repurchase during the annual shareholders meeting this year.