Ginlong Technologies to reduce capital via stock repurchase

Ningbo Ginlong Technologies (SZSE:300763) announced it will reduce its registered capital following shareholder approval to repurchase and cancel 1,219,550 restricted shares. This includes shares from 11 employees who left the company and shares linked to unmet performance targets for 2024. The repurchase will decrease the company's registered capital from CNY399,333,395 to CNY398,113,845. Creditors have 45 days to request debt repayment or guarantees from the company. The original announcement was released on April 29, 2025.