Wuchan Zhongda to cancel repurchased shares, reduce capital

Wuchan Zhongda Group (SSE: 600704) announced its plan to cancel 20,502,900 shares, representing 0.3949% of the company's total share capital, acquired through a share repurchase program. This action will reduce the company's total share capital from 5,192,561,790 shares to 5,172,058,890 shares, and the registered capital will decrease from CNY 5,192,561,790 to CNY 5,172,058,890. The repurchase was conducted via centralized bidding on the Shanghai Stock Exchange with prices between CNY 5.11 and CNY 5.67 per share, averaging CNY 5.44 per share, and a total cost of CNY 11,153.0721 million (excluding transaction costs). The company has notified its creditors, allowing them 30 days from the notification date or 45 days from the announcement publication to request debt repayment or guarantees. The decision to cancel the shares was approved at the company’s 2024 Annual General Meeting held on June 6, 2025, where all proposed resolutions were passed.