Chanjet proposes share repurchase, capital reduction, and loss offset

Chanjet Information Technology Co. announced a proposed repurchase and cancellation of 3,541,694 domestic shares held by its shareholding platforms under the Employee Share Ownership Scheme. This includes 2,170,300 unlocked shares and 1,371,394 shares where unlocking conditions were not met.

This action will reduce the company's total issued shares from 325,772,499 to 322,230,805, with a corresponding reduction in registered capital. The repurchase price for unlocked shares is RMB7.30 per incentive share, while for shares where unlocking conditions were not satisfied, it is RMB6.05 per incentive share. The total consideration is RMB24,140,124, funded by the company’s self-owned funds.

The company also proposes to use RMB207,061,242 from its capital reserve to offset accumulated losses of RMB207,061,242 as of December 31, 2024. This aims to improve the financial position and meet profit distribution conditions. These proposals will be put to a vote at an Extraordinary General Meeting and Class Meetings on November 27, 2025.