Huayou Cobalt to repurchase and cancel restricted shares

Zhejiang Huayou Cobalt (SSE:603799) has announced a plan to repurchase and cancel a total of 3,174,980 restricted shares. The move aims to address departures of personnel, unachieved performance targets, and to optimize the company's equity structure. The repurchased shares break down as follows: 48,000 shares at CNY 23.88 each (plus interest) from personnel departures, 223,500 shares at CNY 23.88 each from employee resignations, 2,784,780 shares at CNY 23.88 each (plus interest) for not achieving second phase targets, 11,000 shares at CNY 14.56 each (plus interest) from personnel departures, and 107,700 shares at CNY 14.56 each from employee resignations. Following the repurchase and cancellation, the company's registered capital will decrease from CNY 1,701,522,003 to CNY 1,698,347,023. The company will also adjust its repurchase prices for 2023 restricted shares to CNY 23.88 and for 2024 restricted shares to CNY 14.56. The cost will be funded from existing capital. The move complies with regulations and will not affect normal operations.