CIMC To Cancel 24.645 Million A Shares And Cut Registered Capital

CIMC Group (02039) said it will change the use of A shares repurchased in 2023 from sale to cancellation and reduce its registered capital, involving about 24.645 million A shares, according to ETNet. The company said the move is intended to protect investors' interests, strengthen confidence and enhance its long-term investment value. After the cancellation is completed, A shares will account for 42.44% of total shares, down from 42.7%, while H shares will rise to 57.56% from 57.3%.