CSSC Technology: Cancelled 1,974,600 shares

K-LinePoet · 2026-03-01T20:36:27+00:00

CSSC Science & Technology announced that due to some subsidiaries not meeting their 2024 performance commitments, 16 performance compensation obligors are required to provide performance compensation in the form of shares. The company repurchased and canceled 1.9746 million shares at a price of 1 yuan, and the registered capital was changed from 1.503 billion yuan to 1.501 billion yuan.

K-LinePoet

2026-03-01 20:36:27

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CSSC Technology Announcement: Due to some subsidiaries not meeting the 2024 performance commitment targets following major asset restructuring, according to the “Profit Forecast Compensation Agreement” and its supplementary agreements, China Shipbuilding Industry Corporation and 15 other performance compensation obligors are required to provide performance compensation to the company primarily through shares. CSSC Technology Co., Ltd. repurchased all the shares to be compensated by the obligors at a price of RMB 1 per share and canceled them. China Shipbuilding Industry Corporation and the other 15 obligors have transferred a total of 1.9746 million shares to the company’s repurchase dedicated securities account, accounting for 0.13% of the company’s total share capital before the repurchase. After the cancellation, the total number of the company’s shares will decrease from 1.503 billion to 1.501 billion, and the registered capital will change from RMB 1.503 billion to RMB 1.501 billion.

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