Zhaowei Machinery to cancel restricted stocks, reduce capital

Shenzhen Zhaowei Machinery & Electronic (SZSE:003021) announced its plan to repurchase and cancel 7,000 restricted stocks previously granted to incentive recipients. This action, approved by the board, supervisory board, and shareholders' meeting, will result in a reduction of the company's total share capital and registered capital by 7,000 shares and CNY7,000 respectively. Zhaowei will proceed to amend its articles of association and complete the necessary industrial and commercial registration changes. The company has also issued a notification to its creditors, allowing them 45 days to declare their claims and request debt repayment or guarantees. Creditors can submit their claims, supported by relevant documentation, to the company's office in Shenzhen.