Taiyuan Heavy Industry cancels 14m restricted shares after performance miss

Taiyuan Heavy Industry will repurchase and cancel 14,153,670 restricted shares, effective July 10, 2025, after the company's 2024 performance failed to meet targets set in its 2022 Restricted Stock Incentive Plan.

The cancellation affects 13,961,670 shares from 221 incentive recipients due to performance issues, plus 192,000 shares from two departed employees. The company's total share capital will decrease from 3,361,256,840 shares to 3,347,103,170 shares.