Zhejiang Hengwei announced that the 11th meeting of the 3rd board of directors of the company and the 10th meeting of the 3rd board of supervisors deliberated and passed the bill to change the use of the repurchased shares and cancel them. The company uses the repurchase of 1.0918 million shares of the company in the special securities account “to select the appropriate timing for employee stock ownership plans or equity incentives according to the actual situation of the company in the future. If the repurchased shares are not used for the above purposes within three years after the repurchase is completed, the company will cancel the repurchased but unused shares” to “use for cancellation and reduction of registered capital” in accordance with relevant regulations. After the cancellation is completed, the total share capital of the company will be changed from 101 million shares to 100 million shares, and the registered capital of the company will be changed from RMB 101 million to RMB 100 million. The bill still needs to be submitted to the company's first extraordinary shareholders' meeting in 2025 for consideration.

Zhejiang Hengwei announced that the 11th meeting of the 3rd board of directors of the company and the 10th meeting of the 3rd board of supervisors deliberated and passed the bill to change the use of the repurchased shares and cancel them. The company uses the repurchase of 1.0918 million shares of the company in the special securities account “to select the appropriate timing for employee stock ownership plans or equity incentives according to the actual situation of the company in the future. If the repurchased shares are not used for the above purposes within three years after the repurchase is completed, the company will cancel the repurchased but unused shares” to “use for cancellation and reduction of registered capital” in accordance with relevant regulations. After the cancellation is completed, the total share capital of the company will be changed from 101 million shares to 100 million shares, and the registered capital of the company will be changed from RMB 101 million to RMB 100 million. The bill still needs to be submitted to the company's first extraordinary shareholders' meeting in 2025 for consideration.