Gongniu group to reduce capital via share cancellation

Gongniu Group Co., Ltd. announced its decision to cancel 63,890 repurchased shares, altering their intended use from employee incentive plans to registered capital reduction. This follows board and shareholder approvals on October 30 and November 18, 2025. This action is separate from the planned buyback and cancellation of 614,260 restricted shares from 98 departing employees, which also aim to reduce registered capital.

Upon completion of these share cancellations, Gongniu Group’s total share count will decrease from 1,808,587,688 shares to 1,807,909,538 shares, with its registered capital correspondingly adjusted to 1,807,909,538 yuan. Creditors have 30 to 45 days, depending on notification receipt, to submit claims or request guarantees, as per the "Company Law of the People's Republic of China."

The creditor notification period runs from November 19, 2025, to January 2, 2026. Creditors are advised to submit relevant contracts, agreements, and other proof of debt to the company’s designated address in Cixi City, Ningbo, Zhejiang Province. Corporate creditors need to provide business licenses and legal representative identification, while individual creditors must present valid identification documents.