Shenzhen Senior Material oks forex hedging, share cancellation

Shenzhen Senior Technology Material convened its third extraordinary general meeting of shareholders on May 8, 2025, with Beijing King & Wood Mallesons (Shenzhen) providing legal oversight. Shareholders approved resolutions to conduct foreign exchange hedging and to cancel shares previously granted under its 2022 restricted stock incentive plan. Specifically, shareholders authorized the company to engage in foreign exchange hedging activities. Also approved was the cancellation of 47,999 restricted shares due to the departure of 17 incentive recipients. This cancellation reduces the company’s registered capital from CNY 1,342,902,078 to CNY 1,342,854,079, with total shares outstanding dropping from 1,342,902,078 to 1,342,854,079. Concurrently, the company announced progress on its ongoing share repurchase program, stating that, as of April 30, 2025, it has not yet commenced repurchases under the plan approved on April 16, 2025. The repurchase program aims to acquire shares worth between CNY 100 million and CNY 200 million at a price no higher than CNY 14 per share. The firm will now begin settlement for the buyback.