Changbao Steeltube reduces capital, appoints new employee director

Jiangsu Changbao Steeltube will reduce its registered capital from yuan 900,986,228 to yuan 900,804,228. This follows the repurchase and cancellation of 180,000 restricted shares from two departing incentive participants and 2,000 unused repurchased shares. Creditors have 45 days from September 9, 2025, to declare their claims.

The capital reduction was approved at the first extraordinary general meeting on September 8, 2025, alongside other resolutions, including modifications to governance policies. The company also announced the resignation of non-independent director Mr. Chen Songlin and the election of Mr. Ding Wei as the employee representative director, effective from September 8, 2025.

Mr. Ding Wei, born in 1969, currently serves as assistant general manager, head of equipment safety & environmental protection, and chairman of the labor union. The board now consists of seven directors, with Mr. Ding’s appointment ensuring compliance with the updated articles of association.