FAW Jiefang announces share repurchase and capital reduction

FAW Jiefang Group (SZSE:000800) announced it will reduce its registered capital from CNY 4,922,371,176 to CNY 4,921,280,975, following shareholder approval at the 2024 Annual General Meeting on April 18, 2025. The decision comes after the board of directors approved the repurchase and cancellation of 1,090,201 restricted shares initially granted under the company's first restricted stock incentive plan, as certain vesting conditions were not met. Creditors are now being notified and have 45 days to request debt repayment or guarantees. The share repurchase plan will proceed as a special resolution. A total of 311 shareholders attended the AGM, representing 79.7473% of the company's shares. The AGM approved all agenda items, including the 2024 annual report and the 2024 profit distribution plan.