Shenergy to cancel restricted shares after employee departure

Shenergy Company Limited is set to repurchase and cancel 15,300 restricted shares previously granted under its A-share restricted stock incentive plan. This action follows the departure of one incentive recipient during the plan's validity period. The repurchase will be executed at a price of CNY 1.68 per share. The cancellation is projected to be completed by September 10, 2025.

Upon completion of the cancellation, Shenergy’s total share capital will decrease from 4,894,094,676 shares to 4,894,079,376 shares. The company obtained necessary approvals from shareholders in 2021 and 2022 to handle such changes, including the cancellation of unvested restricted shares.

The company has fulfilled its disclosure obligations, including publishing a notice to creditors, and has confirmed no objections were raised. Shenergy states that this action will not affect the stability of its management team, operating performance, or financial condition. The company will proceed with the necessary industrial and commercial registration changes.