Xuguang Electronics Plans to Cancel 1.1651 Million Restricted Shares; Registered Capital to Decrease by 1.1651 Million Yuan

MaticHoleFiller · 2026-03-26T04:49:46+00:00

Xuguang Electronics announced the repurchase and cancellation of 1,165,080 restricted shares, resulting in a decrease in registered capital of 1.1651 million yuan, with total shares changing from 829,976,239 shares to 828,811,159 shares. This change does not require shareholder meeting approval.

MaticHoleFiller

2026-03-26 04:49:46

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[Finance News] On March 19, Xuguang Electronics (600353) announced a change in registered capital and an amendment to the Articles of Incorporation. Due to the failure to meet the performance assessment targets at the company level for the third unlock period of the 2023 stock option and restricted stock incentive plan (Phase 1), the company plans to repurchase and cancel 1,165,080 restricted shares granted to 66 incentive recipients that have not yet been unlocked. This will result in a reduction of the company’s registered capital by 1.1651 million yuan.

The announcement states that the proposal was approved at the 17th meeting of the 11th Board of Directors held on March 18, 2026. After the repurchase and cancellation, the total number of shares will change from 829,976,239 to 828,811,159, and the registered capital will change from 829,976,239 yuan to 828,811,159 yuan.

Item	Before Change	After Change
Registered Capital	829,976,239 RMB	828,811,159 RMB
Total Common Shares	829,976,239 shares	828,811,159 shares
Share Capital Structure	829,976,239 common shares, no other types of shares	828,811,159 common shares, no other types of shares

According to the announcement, the company will amend relevant clauses in the Articles of Incorporation regarding registered capital, total common shares, and share capital structure. Since this change in registered capital and the revision of the Articles of Incorporation are authorized by the 2022 annual shareholders’ meeting, there is no need to submit it for shareholder approval.

Xuguang Electronics states that the Board of Directors and all directors guarantee that there are no false records, misleading statements, or major omissions in this announcement, and they bear legal responsibility for the truthfulness, accuracy, and completeness of its content.

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