Zhongtai Chemical to cut capital after share repurchase, incentive plan ends

Xinjiang Zhongtai Chemical will repurchase and cancel 14.28 million restricted shares, citing unmet performance targets for 2023 and 2024, and a 2024 administrative penalty. This action, approved at an extraordinary general meeting on November 10, 2025, will reduce the company's total share capital from 2,590,019,517 shares to 2,575,739,517 shares. Registered capital will decrease from RMB 2,590,019,517 to RMB 2,575,739,517. The repurchased shares represent 0.55% of the company's current total share capital.

The company's Articles of Association, updated in October 2025, explicitly permit the reduction of registered capital through share repurchases. Creditors are entitled to demand debt repayment or guarantees within 45 days of the announcement disclosure. Shareholders approved the termination of the incentive plan and the amendment to the Articles of Association, with 99.27% of votes in favor of the share repurchase and 99.12% in favor of the Articles of Association revision.

Creditors can submit claims from November 11, 2025, to December 25, 2025, at the company's investor relations department in Urumqi. All relevant meeting procedures and resolutions were verified by Shaanxi Jiaxuan Law Firm as legal and valid.