Baiyang Group: Intends to repurchase and cancel 380,000 restricted shares, with a total fund of 927,200 yuan and interest.

Baoyang Corporation announced that, due to some incentive targets leaving the company and no longer in office, they do not meet the requirements of the incentive targets. The company plans to repurchase and cancel 380,000 restricted stocks that have been granted but are not yet released by the targets. The repurchase price will be the grant price plus interest on term deposits during the same period, totaling 927,200 yuan and corresponding interest, which will come from the company's own funds. This proposal has been approved by the board of directors, but still requires approval from the shareholders' meeting, as well as compliance with disclosure requirements, capital reduction, and related share cancellation procedures.