Yuyuan Co., Ltd. Plans to Repurchase and Cancel 1.2499 Million Restricted Shares

MaticHoleFiller · 2026-03-24T17:44:35+00:00

Shanghai Yuyuan Tourist Mart (Group) Co., Ltd. has decided to repurchase and cancel 1,249,890 restricted shares at a repurchase price of 2.91 yuan per share, with a total value of approximately 3.6372 million yuan. This action stems from performance assessments failing to meet targets, departure of certain incentive recipients, and expiration of service terms. Following the cancellation, the company's total share capital will decrease, and it is expected to have no material impact on operating performance.

MaticHoleFiller

2026-03-24 17:44:35

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Data from China Inspection Network: Shanghai Yuyuan Tourism Mall (Group) Co., Ltd. held a board meeting on March 23, 2026, and approved the proposal to repurchase and cancel some restricted shares. According to the company’s 2025 restricted stock incentive plan, a total of 1,249,890 restricted shares are to be repurchased and canceled at a price of 2.91 yuan per share, with a total repurchase amount of approximately 3.6372 million yuan, funded by the company’s own capital.

The main reasons for this repurchase and cancellation are threefold: First, the company’s performance target at the first unlock period of the 2025 restricted stock incentive plan was not achieved. According to the incentive plan, based on 2024 revenue, the growth rate in 2025 must be at least 5%. The company’s audited revenue for 2025 was 36.373 billion yuan, a 22.49% decrease from 46.924 billion yuan in 2024, failing to meet the target, thus 670,890 restricted shares need to be repurchased and canceled. Second, some incentive recipients (Zhang Jian, Meng Lingyuan, Chen Xiaoyan) have resigned and are no longer eligible for incentives, involving 244,000 shares. Third, some incentive recipients (Wang Jiping, Hu Junjie, Wu Yifei) have reached the end of their terms and no longer serve as directors or senior management, thus no longer qualify as incentive targets, involving 335,000 shares. Additionally, the company’s board agreed to recover the cash dividends associated with the shares to be repurchased and canceled.

After this repurchase and cancellation, the company’s total share capital will decrease from 3,892,458,273 shares to 3,891,208,383 shares. The company states that this repurchase and cancellation will not have a significant impact on its operating performance nor affect the diligence of the management team. The matter is subject to the company’s completion of relevant information disclosure and capital reduction procedures.

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