BOE Tech cancels shares, reduces capital to boost value

BOE Technology Group (SZSE:000725) announced it will cancel repurchased shares and reduce its registered capital. This decision involves cancelling 2,252,839 restricted shares from departing or underperforming incentive recipients, according to its 2020 stock option and restricted stock management plan. Additionally, BOE will alter the use of 228,882,900 shares held in a dedicated securities account, changing their purpose from "for company equity incentive plans" to "for cancellation and reduction of company registered capital."