China Resources Sanjiu to repurchase stock after incentive plan fails

China Resources Sanjiu Medical & Pharmaceutical (SZSE:000999) announced plans to repurchase and cancel 4.747942 million restricted shares after performance targets were not met under the third vesting period of its 2021 restricted stock incentive plan. The repurchase affects 363 employees and includes 4.087113 million shares initially granted and 660,829 shares reserved for grant. The repurchase price for initially granted shares is set at CNY 5.7817625 per share, while reserved shares will be repurchased at CNY 11.3988165 per share, funded from the company's own capital, totaling approximately CNY 31.1634 million. The repurchase and cancellation are subject to shareholder approval and will reduce the company’s total share capital.