Summary by Futu AI
China Railway announced on August 30, 2024, that it will repurchase and cancel a portion of the restricted stocks under the 2021 restricted stock incentive plan, involving 43 incentive recipients, totaling 7.384576 million shares. The reasons for the repurchase include recipients leaving the company, statutory retirement, voluntary resignation, and poor job performance. The repurchase prices are RMB 2.944 per share and RMB 3.27 per share respectively, adjusted for the initial grant price and the reserved grant price after dividends, plus interest calculated based on the deposit benchmark interest rate published by the People's Bank of China at the same period. This repurchase will not change the controlling shareholders and actual controllers of the company, nor will it have a substantial impact on the company's operating performance and financial condition.