Kingdom Sci-Tech to cancel repurchased shares, reduce capital

Shenzhen Kingdom Sci-Tech (SSE:600446) announced its plan to change the use of its repurchased shares from "sales through centralized bidding transactions" to "cancellation and reduction of registered capital." The decision was made at the company's eighth board meeting in June 2025. The cancellation will involve 5,007,526 shares, representing 0.53% of the total share capital. Post-cancellation, the total share capital will decrease from 946,275,005 shares to 941,267,479 shares, with a corresponding reduction in registered capital from CNY 946,275,005 to CNY 941,267,479. This initiative aims to enhance shareholder value and investor confidence. The company had previously repurchased 10,007,526 shares at a total cost of CNY 99,977,357.84, with an average price of CNY 9.99 per share. Of these, 5,000,000 shares were sold via centralized bidding. Shareholder approval is still required for the capital reduction.