Chongqing Iron & Steel Co., Ltd. Class H (HK:1053) has released an update.
Chongqing Iron & Steel Co., Ltd. has announced a change in its strategy from using repurchased shares for equity incentives to canceling them to reduce registered capital. The company has already repurchased 66.8 million shares for RMB 69.75 million and aims to enhance shareholder value and boost earnings per share through this action. The resolution, yet to be completed, is aligned with regulatory compliance and is expected to have no adverse effects on the company’s operations or shareholder interests.
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