Summary by Moomoo AI
Flat glass held a board of directors and supervisors meeting on August 27, 2024, and approved the repurchase and cancellation of part of the restricted A-share stocks first granted under the 2020 stock incentive plan. The decision was made because one of the incentive recipients resigned due to personal reasons and no longer met the incentive conditions. Therefore, the unlifted 120,000 restricted A shares were repurchased and canceled, involving a total amount of RMB 747,600. This repurchase and cancellation has been authorized by the 2019 annual general meeting, the 2020 first A-share category shareholder meeting, and the H-share category shareholder meeting and does not require further approval from the shareholders' meeting. This repurchase and cancellation will not have a substantial impact on the company's financial condition and operating results, nor will it affect the ongoing implementation of the restricted stock incentive plan.
