Putailai to cancel shares, reduce capital, notify creditors

Shanghai Putailai New Energy Technology Co., Ltd. (SSE:603659) announced its plan to repurchase and cancel restricted stocks, leading to a reduction in the company's registered capital. Approved at the company's third extraordinary general meeting on June 30, the company will repurchase 766,296 restricted shares at a price of CNY23.19 per share. The total number of shares will decrease from 2,137,165,372 to 2,136,399,076, and the registered capital will correspondingly reduce by CNY766,296, from CNY2,137,165,372 to CNY2,136,399,076. The company has notified its creditors, who have 45 days from the announcement date (July 1, 2025) to request debt settlement or guarantees. The changes have been approved at the shareholder meeting with 99.97% votes.