GEM reduces capital after restricted share buyback

GEM will repurchase and cancel 8,750,450 restricted shares from 542 incentive recipients as the third unlocking period performance targets of its 2022 restricted share incentive plan were not met. This action will reduce the company's total share capital from 5,124,299,057 shares to 5,115,548,607 shares, and its registered capital from 5,124,299,057 yuan to 5,115,548,607 yuan.

The decision was approved at the Seventh Board of Directors' Fifth Meeting, the Seventh Board of Supervisors' Fourth Meeting on May 19, 2025, and the 2025 Fourth Extraordinary General Meeting of Shareholders on September 11, 2025. Creditors are invited to submit claims within 30 days of receiving notification or 45 days from the public announcement.

The extraordinary general meeting also approved several other proposals, including amendments to the company's Articles of Association and internal governance policies, and the proposed issuance and listing of H-shares on the Hong Kong Stock Exchange.