China Chemical Engineering to repurchase restricted shares, reduce capital

China National Chemical Engineering Co., Ltd. (CNCEC) announced a plan on October 17, 2025, to repurchase and cancel 211,200 restricted shares from six incentive recipients, which will lead to a reduction in its registered capital. This action follows board approval on October 15, 2025. The total share capital will decrease from 6,106,877,362 shares to 6,106,666,162 shares, with registered capital similarly reduced.

The repurchase is due to one incentive recipient being dismissed and five others having their 2024 performance assessments rated as "qualified" or "unqualified," resulting in some or all of their planned unlockable shares being repurchased. The repurchase price, adjusted for dividends, is 4.269 yuan per share, totaling 901,612.80 yuan, funded by the company's own capital. This action is not expected to materially affect the company's financial or operational performance.

Creditors are notified to claim debts or provide guarantees within 30 days of receiving the notice or 45 days from the announcement disclosure. Concurrently, CNCEC announced that the second unlock period for its 2022 restricted stock incentive plan has been met, with 458 incentive recipients eligible to unlock 18,486,600 shares, representing 0.3027% of the current total share capital.