Sinoma International to lift restrictions, buy back shares

Sinoma International Engineering (SSE: 600970) announced it will lift restrictions on 3,203,379 shares for 69 eligible employees, representing 0.12% of the company's total share capital, related to the 2021 restricted stock incentive plan's reserved grant. Concurrently, the company plans to repurchase and cancel 2,063,738 restricted shares from 18 departing or underperforming employees, reducing its total share capital from 2,642,021,768 shares to 2,639,958,030 shares, with the buyback prices for original grants and reserved grants set at RMB 5.04 per share. These moves require shareholder approval at the upcoming general meeting and will be followed by standard procedures. This action will facilitate the long-term development of the company.