Sou Hu Cai Jing·2025-09-22 23:12Core Viewpoint - Huatai Securities Co., Ltd. has approved the repurchase and cancellation of a portion of A-share restricted stocks, reducing its registered capital and updating its articles of association accordingly [2][3][4]. Group 1: Stock Repurchase and Capital Reduction - The company held its 2024 annual general meeting and approved the repurchase of 438,495 A-share restricted stocks, which will be canceled post-repurchase [2]. - Following the repurchase, the registered capital decreased from RMB 902,730.2281 million to RMB 902,686.3786 million [2]. - The company has completed the necessary registration changes with the Jiangsu Provincial Market Supervision Administration [2]. Group 2: Medium-Term Note Program - The company's indirect wholly-owned subsidiary, Pioneer Reward Limited, established a medium-term note program with a total principal amount of up to USD 3 billion [6]. - On September 22, 2025, the subsidiary issued two tranches of medium-term notes amounting to RMB 1.7 billion and HKD 2 billion, with a total guarantee amount of RMB 3.523 billion provided by the company [6][7]. - The company has applied for the listing of these notes on the Hong Kong Stock Exchange, expected to commence on September 23, 2025 [6]. Group 3: Guarantee and Risk Management - The company provides unconditional and irrevocable guarantees for the medium-term notes issued by Pioneer Reward Limited, which has a debt-to-asset ratio exceeding 70% [8]. - The total amount of guarantees provided by the company to its subsidiaries stands at RMB 370.40 billion, with no overdue debts reported [11].