XCMG Construction Machinery to reduce capital, abolish supervisory board

XCMG Construction Machinery Co., Ltd. announced a reduction in its registered capital and the elimination of its supervisory board, alongside revisions to its articles of association. The company's total share capital will decrease from RMB11,816,166,093 to RMB11,752,972,482.

This change results from three share repurchase and cancellation events: 56,515,180 shares cancelled by May 14, 2025; 5,935,100 restricted shares cancelled by June 6, 2025; and 743,331 shares cancelled by August 14, 2025, due to a performance compensation agreement.

The supervisory board will be abolished, with its duties transferred to the board’s audit committee, aligning with new company law regulations. These changes were approved during the ninth board of directors' meetings held on April 28, 2024, October 15, 2024, and April 26, 2025, and the annual general meeting held on May 27, 2025. These amendments are pending approval at the upcoming general meeting of shareholders.