Summary by Moomoo AI
Ping An Insurance (Group) Co. Ltd. ("Ping An") announced that it will change the purpose of the 102,592,612 A-shares repurchased through centralized bidding trading on the Shanghai Stock Exchange from August 27, 2021 to August 26, 2022, which were originally planned for the employee stock ownership plan, to cancellation. This move reflects the company's confidence in its future development and aims to safeguard the interests of the majority of investors. The cancellation of shares requires approval from the board of directors and shareholders' meeting, and approval from the China Banking and Insurance Regulatory Commission. After completion, the company's registered capital and total share capital will be correspondingly reduced. Ping An will strictly follow relevant laws, regulations and regulatory requirements to implement the repurchase and cancellation procedures. The announcement date is July 16, 2024.