Changbao Steeltube completes restricted share repurchase and cancellation

Jiangsu Changbao Steeltube Co., Ltd. (SZSE:002478) announced the completion of the repurchase and cancellation of 180,000 restricted shares from its 2023 incentive plan. This represents 0.02% of the company's total share capital before the repurchase and involved two incentive recipients who no longer met the incentive plan's criteria. The total capital used for this repurchase and cancellation amounted to CNY 595,800, sourced from the company's own funds. The repurchased shares' price was adjusted to CNY 3.31 per share following the 2024 annual equity distribution.

As a result of this action, the company's total share capital has decreased from 900,986,228 shares to 900,806,228 shares. The cancellation process was completed on September 26, 2025.

This repurchase and cancellation is not expected to alter the company's controlling shareholder or actual controller, nor does it affect its listing status or financial performance. The company’s management team is committed to continuing its duties to create value for shareholders.