Gongniu Group cancels restricted stock from departing employees

Gongniu Group (SSE:603195) announced the cancellation of 434,729 restricted shares under its 2022, 2023 and 2024 equity incentive plans. The cancellation is due to the departure of 52 employees who no longer qualify for the incentive. The repurchase and cancellation will reduce the total number of issued shares to 1,808,587,688, and the number of restricted shares under the incentive plans to 7,541,425. The cancellation is expected to be completed on June 17, 2025, after which the company will proceed with the corresponding capital reduction procedures. The legal advisor confirmed the resolution, decision-making process, and information disclosure complied with relevant laws and regulations.