Boway Alloy completes registered capital reduction

Ningbo Boway Alloy Material Company Limited (Boway Alloy) announced the successful completion of its registered capital reduction. The Ningbo Municipal Market Supervision Administration reissued its business license following a decision made at the company's sixth board of directors meeting on August 18, 2025, and approved by an extraordinary general meeting on September 3, 2025.

The change in registered capital was due to the repurchase and cancellation of 280,000 restricted shares from one former incentive recipient as part of the 2023 stock option and restricted stock incentive plan. Consequently, the company's registered capital has been reduced from RMB810,374,302 to RMB810,094,302.

The company's updated registration details include its name as Ningbo Boway Alloy Material Company Limited and a registered capital of RMB810,094,302. The legal representative is Xie Shicai.