Changbao Steeltube completes restricted stock repurchase and cancellation

Jiangsu Changbao Steeltube (SZSE:002478) announced the completion of the repurchase and cancellation of 360,000 restricted shares on May 14, 2025. This move, affecting six employees, was funded with a total of CNY 1,270,800. Following the cancellation, the company's total share capital has decreased from 901,346,228 shares to 900,986,228 shares, with the cancelled shares representing 0.04% of the previous total. The adjustment was made due to employee departures and aligns with the company's 2023 restricted stock incentive plan, with the repurchase price adjusted to CNY 3.53 per share. Changbao Steeltube affirmed that the repurchase and cancellation adheres to relevant laws and regulations and will not significantly impact the company's operations or control structure.