Royal Group to reduce registered capital, amend charter

Royal Group announced that it will reduce its registered capital from CNY 853,044,615 to CNY 832,403,985 and amend its Articles of Association. This decision follows the buyback and cancellation of 16,004,720 restricted shares due to unmet performance targets and employee departures, as well as the cancellation of 20,640,630 performance commitment compensation shares held by Xu Leilei. The company's total share capital will decrease from 853,044,615 shares to 832,403,985 shares. Creditors are entitled to demand debt repayment or guarantees within 45 days of the announcement. The matter is subject to shareholder approval at the 2024 Annual General Meeting.