Kanhoo Industry to reduce capital through share repurchase

Jiangmen Kanhoo Industry (SZSE:300340) announced an amendment to its company charter following a decision to repurchase and cancel 572,130 restricted shares. This action stems from the departure of 33 originally incentivized employees and the failure to meet pre-set performance targets for the release of restricted shares. Consequently, the company's registered capital will be reduced from RMB 276,465,494 to RMB 275,893,364, and the total number of shares will decrease from 276,465,494 to 275,893,364. The proposed changes are still subject to shareholder approval and registration with market regulators.