Summary by Futu AI
GREAT WALL AUTOMOBILE (STOCK CODE: 02333) ISSUED AN OVERSEAS REGULATORY NOTICE ON MARCH 29, 2024 ANNOUNCING THE COMPLETION OF THE REPURCHASE AND REPURCHASE OF CERTAIN RESTRICTED SHARES IN THE EQUITY INCENTIVE SCHEME FOR 2021 FOR THE FIRST GRANT AND RESERVATION. A legal submission issued by Beijing Jincheng Law Firm confirms that the repurchase and divestment has received the necessary approvals and authorizations and complies with the relevant laws and regulations. Reasons for buybacks include failure to meet the company level performance evaluation criteria and some incentives due to severance, relocation, demotion, or personal performance assessment results that no longer meet incentive criteria. This repurchase and repurchase total 1,891,119 shares of restricted stock, representing approximately 0.03% of the Company's total share capital, with the required funds coming from the Company's own funds. Great Wall Motor said that this is a normal operation in accordance with the company's performance performance and the relevant regulatory requirements.