Chinese media to cut share capital after buyback

Chinese Universe Publishing And Media Group (SSE:600373) announced that it will reduce its registered capital. The company's board approved the changes to reflect the cancellation of 7,705,000 shares repurchased through a share buyback program. Following the cancellation completed on January 27, 2025, the total share capital will decrease from 1,402,727,307 shares to 1,395,022,307 shares. Consequently, the company will amend Article 20 of its Articles of Association, subject to shareholder approval at the upcoming general meeting. The company will also update Article 7. The board will be authorized to handle the registration and filing procedures for the capital change and amendments.