2024-08-14
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On the evening of August 8, ShiTou Co., Ltd. issued an "Announcement on the Expiration of the Implementation Period of the Share Purchase Plan by the Company's Former Director and President and the Results of the Purchase", stating that as of August 7, 2024, the implementation period of the share purchase plan by the company's former director and president Zhu Jimin had expired, and Zhu Jimin's share purchase failed to reach the lower limit of the original purchase plan, and this purchase plan was not completed.
Zhu Jimin promised to increase his holdings half a year ago. On the evening of February 7, 2024, Shi Tou Co., Ltd. issued an "Announcement on the Company's Directors and President's Plan to Increase Shares", stating that based on the confidence in the company's future sustainable and stable development and recognition of its long-term investment value, the company's director and president Zhu Jimin plans to increase his holdings of the company's shares through centralized bidding transactions on the Shanghai Stock Exchange within 6 months from the date of disclosure of this announcement. The planned cumulative increase in holdings is not less than RMB 200,000 (inclusive) and not more than RMB 400,000 (inclusive). The increase plan does not set a price range, and will be implemented at an appropriate time based on the company's stock price fluctuations and the overall trend of the capital market. The announcement clearly stipulates that the funds for the proposed increase in shares are the own funds or self-raised funds of the increase entity.
However, the six-month increase period has passed, and the final result of the increase is that Zhu Jimin has accumulated 15,000 shares of the company through the stock exchange trading system in a centralized bidding transaction manner, accounting for 0.0065% of the company's total share capital, and the increase amount is RMB 55,660, which only completed 27.8% of the lower limit of the increase plan.
As for the reason why Zhu Jimin did not complete the plan to increase his holdings, the announcement attributed it to "limited personal funds and other reasons". The announcement also specifically stated that Zhu Jimin had resigned from the company's director and president positions on June 14, 2024, and no longer held any position in the company and its subsidiaries. The implication is that Zhu Jimin's failure to complete the plan to increase his holdings is understandable, after all, the person concerned has resigned and is no longer the company's president.