Zangge Holding completes share repurchase cancellation

Zangge Holding (SZSE: 000408) announced the completion of the cancellation of 10,209,328 repurchased shares, representing 0.646% of the company's share capital before the cancellation. With the share cancellation finalized on February 28, 2025, the company's total share capital has been reduced from 1,580,435,073 shares to 1,570,225,745 shares. The repurchase plan, approved at shareholder meetings in August 2024, involved using company funds to repurchase shares at a price not exceeding RMB 35.64 per share, with the goal of share cancellation and registered capital reduction. The company spent RMB 299,968,245.71 (excluding transaction costs) to repurchase the shares in the open market at an average price of RMB 29.38. Zangge Holding stated that the repurchase and cancellation will enhance earnings per share and shareholder returns and will not have any material impact on its financial condition or operations.