Group 1 - The company, Xingda International, announced a capital reduction agreement involving its subsidiary, Jiangsu Xingda Steel Cord Co., Ltd., with several tire manufacturers, resulting in a reduction of registered capital from approximately RMB 2.862 billion (about HKD 3.132 billion) to approximately RMB 2.711 billion (about HKD 2.966 billion) [1] - Prior to the capital reduction, the subsidiary was held approximately 70.32% by Faith Maple (a wholly-owned subsidiary of the company) and other shareholders, while post-reduction, the ownership will change to approximately 74.25% held by the company and 25.75% by other shareholders [1] - The capital reduction is a response to the termination of a proposed spin-off due to changes in the international business environment, allowing certain shareholders to withdraw their investments [2][3] Group 2 - The capital reduction agreement allows shareholders, including Chengshan Group, Sailun Group, Triangle Tire, and Linglong Tire, to withdraw their investments with a total amount of RMB 50 million, which will be calculated with interest at a simple annual rate of 8% from December 16, 2020, until the withdrawal date [2] - The total cost for the withdrawal of RMB 50 million is calculated to be RMB 55.9861 million, leading to the cancellation of 20.833 million shares at a cancellation price of approximately RMB 2.69 per share [2] - As of the announcement date, other shareholders of the target company have not expressed any intention to withdraw their investments [4]