Wuchan Zhongda to cancel restricted stock awards

Wuchan Zhongda Group Co., Ltd. (SSE:600704) announced it will proceed with the repurchase and cancellation of 879,000 restricted shares initially granted under its 2021 restricted stock incentive plan. The decision comes after 13 initially granted employees left the company and are no longer eligible for the incentive program. The repurchase and cancellation, approved by the board of directors on April 25, 2025, will be completed on June 20, 2025. The cancellation will reduce the total number of outstanding shares from 5,192,561,790 to 5,191,682,790. The company has completed the required creditor notification process with no objections received.