Sifang Automation to reduce capital through share repurchase

Beijing Sifang Automation (SSE:601126) announced plans to reduce its registered capital by RMB 168,000 following the repurchase and cancellation of 168,000 restricted shares. The decision, approved at the February 25th board meeting, is prompted by the departure of seven incentive recipients who no longer qualify for the company's "Sail 2" restricted stock incentive plan.