M&G Stationery to cancel repurchased shares, boost investor returns

** Shanghai-listed stationery giant Shanghai M&G Stationery (SSE: 603899) announced plans to retire 2,858,043 of its own shares, a move designed to boost investor returns by increasing earnings per share. The shares, representing 0.31% of the company's total equity, were initially repurchased through a dedicated securities account as part of a ¥150-300 million buyback program completed in February 2023. The repurchased shares were originally intended for use in future equity incentive or employee stock ownership plans. However, the company has decided to cancel them and reduce its registered capital instead, citing a desire to improve per-share profitability and signal confidence in its long-term value.