---
title: "CSSCSTC: Cancelled 3.8974 million shares"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/257059037.md"
description: "CSSCSTC announced that due to some subsidiaries failing to meet the performance commitment targets for the year 2023, 16 performance compensation obligors are required to compensate with shares. The company repurchased and canceled 3.8974 million shares at a price of RMB 1 per share, accounting for 0.26% of the total share capital before the repurchase. After the cancellation, the total number of shares of the company changed from 1.507 billion shares to 1.503 billion shares, and the registered capital changed from RMB 1.507 billion to RMB 1.503 billion"
datetime: "2025-09-12T08:45:42.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/257059037.md)
  - [en](https://longbridge.com/en/news/257059037.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/257059037.md)
generator: "portal-rs"
---

# CSSCSTC: Cancelled 3.8974 million shares

CSSCSTC announced that due to some subsidiaries failing to meet the performance commitment targets for the year 2023, according to the "Profit Forecast Compensation Agreement" and supplementary agreements, China Shipbuilding Industry Corporation and 16 other performance compensation obligors are required to compensate the company primarily with shares. The company will repurchase the shares that the performance compensation obligors are required to compensate at a price of RMB 1 per share and will cancel all of them. According to the "Securities Transfer Registration Confirmation" issued by the Shanghai Branch of China Securities Depository and Clearing Corporation Limited, China Shipbuilding Industry Corporation and 16 other performance compensation obligors have transferred a total of 3.8974 million shares to the company's dedicated repurchase securities account, accounting for 0.26% of the company's total share capital before the repurchase. After the cancellation of the performance compensation shares is completed, the total number of the company's shares will change from 1.507 billion shares to 1.503 billion shares, and the company's registered capital will change from RMB 1.507 billion to RMB 1.503 billion

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---
> **Disclaimer: This article is for reference only and does not constitute any investment advice.**