Chanjet proposes share repurchase, capital reduction, and loss offset

Chanjet Information Technology Company Limited proposes to repurchase and cancel 3,541,694 domestic shares held by shareholding platforms under its Employee Share Ownership Scheme, representing approximately 0.67% and 0.42% of total issued shares, respectively. This repurchase will reduce total issued shares from 325,772,499 to 322,230,805 and registered capital from RMB325,772,499 to RMB322,230,805. The total consideration for the repurchase and cancellation is RMB24,140,124, funded by the company's self-owned funds.

The company entered into a Share Repurchase Agreement with Yunzhi Jietong for 938,000 domestic shares for RMB6,487,400. Yunzhi Jietong is considered a connected person due to executive director Yang Yuchun's interests. The repurchase price for unlocked incentive shares is RMB7.30 per share, while for shares with unsatisfied unlocking conditions, it is RMB6.05 per share.

Additionally, Chanjet plans to use RMB207,061,242 from its capital reserve to offset accumulated losses, reducing the capital reserve to RMB597,764,123. The company also proposes amendments to its Articles of Association and internal rules to align with new PRC regulations and business development needs. These actions are subject to shareholder approval at the EGM and Class Meetings scheduled for November 27, 2025.