YTO Express cancels repurchased shares, reduces share capital

YTO Express Group (SSE:600233) announced the cancellation of 26,527,300 repurchased shares initially intended for employee stock ownership or equity incentives. The decision, approved by the board and shareholders, will see these shares cancelled and the company's registered capital reduced accordingly. The cancellation is scheduled for July 8, 2025. Post-cancellation, the total number of company shares will decrease from 3,446,753,438 to 3,420,226,138. The company stated the move aims to enhance shareholder value and improve per-share earnings. The move will slightly increase the stake of controlling shareholder Shanghai YTO Dragon Investment Development to 37.23%. YTO Express confirmed that the cancellation adheres to all relevant regulations and will not materially impact the company's financial standing or operations. A total of CNY 37,864.32 million was spent on the initial buyback.