Chongqing Chuanyi to cancel 45,000 repurchased shares

Chongqing Chuanyi Automation (SSE:603100) announced its plan to cancel 45,000 shares that were previously repurchased. The original intention for the repurchased shares was to be used for equity incentives. However, the company now plans to cancel them and reduce its registered capital accordingly. The decision was approved during the company's sixth board meeting and will be put to a shareholder vote for final approval. As of the announcement, the company held 45,000 unused shares from its earlier repurchase program. The company stated that the cancellation will not significantly impact its financial standing or operations and will not alter the holdings of major shareholders. The repurchase program was initiated in September 2022, during which the company repurchased a total of 3.95 million shares at a cost of CNY 395.00.