Chanjet approves share buyback, capital cut, and loss offset

Chanjet Information Technology Company Limited announced on November 27, 2025, the approval of several key corporate resolutions, including the repurchase and cancellation of domestic shares under its 2020 Employee Share Ownership Scheme and a subsequent reduction in registered capital. This action will reduce the company's total issued shares from 325,772,499 to 322,230,805, with registered capital similarly decreasing from RMB325,772,499 to RMB322,230,805. Creditors are entitled to request repayment or guarantees within 45 days.

Additionally, Chanjet received approval to use its capital reserve to offset accumulated losses. As of December 31, 2024, the parent company had an accumulated loss of RMB207,061,242 and a capital reserve of RMB804,825,365. The company will use RMB207,061,242 from this reserve to fully offset these losses, reducing the capital reserve to RMB597,764,123 and accumulated losses to RMB0.

The resolutions were passed at the extraordinary general meeting, H shareholders' class meeting, and domestic shareholders' class meeting held on November 27, 2025. These measures are intended to improve the company's financial position and enhance shareholder returns.