Jiangsu Changbao Steeltube completes treasury share cancellation

Jiangsu Changbao Steeltube Co., Ltd. announced the completion of the cancellation of 2,000 treasury shares from its dedicated repurchase account. This action, finalized on October 17, 2025, reduces the company's total share capital from 900,806,228 shares to 900,804,228 shares. The 2,000 shares represent 0.0002% of the company's total share capital prior to the cancellation.

The shares, originally part of a buyback initiated in 2022 and completed by April 28, 2023, were intended for an employee stock ownership plan or equity incentive. With 2,000 shares remaining unused, the board of directors resolved to change their usage and proceed with cancellation to decrease registered capital, aligning with regulatory requirements for repurchased shares not utilized within 36 months.

The company affirmed that this cancellation adheres to relevant laws and regulations, having no material impact on its operating performance, financial condition, or the compliance of its equity distribution. Furthermore, it does not alter the controlling shareholder or actual controller.