Xi'an Shaangu Power to cancel restricted stocks

Xi'An Shaangu Power (SSE:601369) announced it will proceed with the repurchase and cancellation of 2,124,541 restricted shares previously granted under its 2021 equity incentive plan. The decision was made following approval at the company's board and supervisory meetings on April 16, 2025. The cancellation involves shares held by 299 former incentive recipients, with 268,000 shares from employees who left the company and 1,856,541 shares from employees who did not meet performance criteria. The cancellation is expected to occur on June 17, 2025, reducing the company's restricted shares to 32,107,259. The company has fulfilled necessary creditor notification procedures and will complete registration changes accordingly.