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Sifang Automation to repurchase and cancel restricted shares from departing employees

October 20, 2025 at 05:10 PM UTCBy FilingReader AI

Beijing Sifang Automation Co., Ltd. will repurchase and cancel 59,500 restricted shares from two departing incentive plan participants. These individuals no longer qualify for the company's "Qihang No. 2 Restricted Stock Incentive Plan." The board approved the repurchase and cancellation on August 28, 2025. The adjusted repurchase price for these shares is CNY 6.27 per share, reflecting a deduction for the 2024 annual cash dividend of CNY 0.72 per share.

The total payment for this repurchase amounts to CNY 373,065, funded by the company's own capital. The repurchase and cancellation process is expected to be completed by October 23, 2025. Following the cancellation, the company's total share capital will decrease from 833,268,000 shares to 833,208,500 shares.

This action will reduce the number of restricted shares from 14,414,300 to 14,354,800, altering the proportion of restricted shares from 1.73% to 1.72% of the total share capital. The company confirms that this change will not affect its controlling shareholder or actual controller status and that it will retain its listing qualifications.

This report was generated by FilingReader's AI system from regulatory filings and company disclosures. To request a correction, contact editorial@filingreader.com

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