EGing Optoelectronics to cancel 2.5m restricted shares

EGing Photovoltaic Technology (SSE: 600537) announced it will repurchase and cancel 2.5 million restricted shares previously granted under its 2022 equity incentive plan. The decision to terminate the plan was made due to significant changes in the macroeconomic environment, market conditions, and industry dynamics, rendering the original performance targets unachievable. The cancellation, approved at a shareholder meeting on January 17, 2025, involves restricted shares held by three senior managers. The repurchase and cancellation process is expected to be completed by March 21, 2025, reducing the total number of outstanding shares to 1,183,715,018. The company has completed necessary procedures and confirmed the action complies with relevant regulations and the original incentive plan terms.