Zhejiang China Commodities City Group reduces capital after share buyback

Zhejiang China Commodities City Group Co., Ltd. has disclosed changes to its registered capital and total share capital, leading to amendments in its Articles of Association. This adjustment stems from the 2020 restricted stock incentive plan, where three employees, no longer meeting the eligibility criteria due to retirement, had their restricted shares repurchased and cancelled.

The company successfully bought back and cancelled 86,700 restricted shares. This action, confirmed by the China Securities Depository and Clearing Corporation Limited Shanghai Branch, results in a reduction of the company's total share capital from RMB 5,483,645,926,000 to RMB 5,483,559,226,000. Correspondingly, the registered capital also decreased.

The amendments specifically affect Article 7 and Article 22 of the Articles of Association, which now reflect the updated figures for registered capital and total share capital, respectively. These revisions are subject to approval by the company's shareholders at an upcoming general meeting.