Boton Shares: Intends to cancel 202.23 million shares

BoTeng Co., Ltd. announced that the company plans to cancel all the shares repurchased in 2022, totaling 202.23 million shares, accounting for 0.37% of the company's total share capital. The plan has been approved by the board of directors and the supervisory board, and still needs to be submitted to the shareholders' meeting for review. The company's repurchase of shares this time was originally intended for the implementation of equity incentives or employee stock ownership plans. However, due to the expiration of the retention period, it has been decided to change the purpose to cancellation and reduction of registered capital. This action will not have a substantive impact on the company's financial condition and operating results.