Wantai BioPharm to cancel shares, reduce capital to boost investor confidence

Beijing Wantai Biological Pharmacy Enterprise will hold an extraordinary general meeting of shareholders on October 31, 2025, to deliberate on a proposal to change the use of 729,970 repurchased shares. These shares, originally intended for employee stock ownership plans or equity incentives, will now be canceled to reduce the company's registered capital. This action aims to uphold the company's commitment regarding the use-by date of repurchased shares, enhance long-term investor value, and boost confidence.

The company completed a share repurchase program on December 21, 2022, acquiring 1,585,320 shares, representing 0.1750% of its total share capital at the time. Of these, 855,350 shares were transferred to the 2023 employee stock ownership plan. As of October 16, 2025, 729,970 repurchased shares remain unused, prompting the proposed change in purpose to cancellation.

Upon cancellation of the 729,970 shares, Wantai BioPharm's total share capital will decrease from 1,265,122,774 shares to 1,264,392,804 shares. The board of directors has confirmed that this change will not significantly impact the company's financial, operational, or debt-servicing capabilities, nor will it alter control or its listed status, thus safeguarding shareholder interests.