Ninestar to reduce capital by CNY 1,421,878.92 due to share cancellation

Ninestar Corp (SZSE:002180) announced that it will reduce its registered capital from CNY 1,422,989,339 to CNY 1,421,878,923 due to the repurchase and cancellation of 1,110,416 restricted shares. This decision follows the company's failure to meet its 2024 performance targets as well as the departure of 14 equity incentive recipients. The resolution was approved at the company's board and supervisory meetings on April 11, 2025, and the shareholder meeting on May 8, 2025. Creditors have 45 days to request debt repayment or guarantees, according to Chinese regulations.