Century Huatong repurchases shares for unmet performance targets

Zhejiang Century Huatong Group (SZSE:002602) announced plans to repurchase and cancel 126,627,700 shares, representing 1.70% of its total share capital before the repurchase, due to unmet performance targets related to a major asset restructuring. The shares will be repurchased from Shanghai Yaoqu Ru Network Technology Partnership, Shanghai Yiqu Sheng Enterprise Management Consulting Partnership, and Shanghai Jiyu Fan Enterprise Management Consulting Partnership for a total of CNY 1.00. This move follows the 2018 acquisition of盛趣游戏, where certain shareholders agreed to performance targets that were not met by the end of 2020. The repurchase, subject to shareholder approval at the upcoming extraordinary general meeting on June 19, 2025, will reduce the company's total share capital to 7,325,929,268 shares from 7,452,556,968 shares. All shareholders of record by June 13, 2025, are eligible to attend and vote at the meeting.