Taiyuan Heavy to cancel restricted shares, eyes future growth

Taiyuan Heavy Industry (SSE:600169) announced plans to cancel 14,153,670 restricted shares from its 2022 stock incentive plan, affecting 223 employees including departing staff and those not meeting performance targets. The decision, approved by the board on April 25, 2025, will reduce the company's share capital from 3,361,256,840 to 3,347,103,170. The cancellation of the shares, priced at CNY 1.38 for initial grants and CNY 1.23 for subsequent grants, will cost the company CNY 19,126,700, funded from its own capital. The company emphasized that this action aligns with regulations and will not impede the incentive plan's overall implementation. The company has tasked Shanghai Securities Clearing with handling procedures related to decreasing registered capital.