Zhejiang Xinao Textiles (SH:603889) Shang Hai Zheng Quan Bao·2025-06-17 20:01Core Viewpoint - Zhejiang Xin'ao Textile Co., Ltd. has announced a change in registered capital and amendments to its Articles of Association following the repurchase and cancellation of restricted stock due to certain employees no longer qualifying for the incentive program [1][2]. Group 1: Capital Change - The company's total share capital will decrease from 730,490,943 shares to 730,297,443 shares, and the registered capital will reduce from RMB 730,490,943 to RMB 730,297,443 [2][15]. - A total of 193,500 shares will be repurchased and canceled due to six employees retiring and two failing to meet performance criteria [1][30]. Group 2: Articles of Association Amendments - Amendments to the Articles of Association will be made in accordance with relevant laws and regulations, reflecting the changes in registered capital and share structure [3][5]. - Other provisions of the Articles of Association will remain unchanged, and the changes will require approval from the shareholders' meeting [5][17]. Group 3: Board Meeting Decisions - The sixth board meeting on June 17, 2025, approved the action plan for quality improvement and return enhancement, along with the stock repurchase and capital change proposals [10][12]. - The board meeting was attended by all nine directors, and all resolutions passed unanimously [11][16].