Sichuan Jinshi Technology (SHE:002951) will repurchase and cancel 1.9 million restricted shares, or 0.48% of its total share capital, after failing to meet 2025 performance targets.
The cancellation will reduce total shares to 403.1 million from 405 million and cut registered capital by 1.9 million yuan to 403.1 million yuan, according to a Monday filing with the Shenzhen bourse.
The move affects 30 incentive recipients.
Shares of the paper packaging company closed 10% higher Monday.
Fitch Ratings raised Kioxia Holdings' (TYO:285A) issuer default rating to BBB- from BB+, with a stable outlook, according to a Monday release.The rating action considers the boost in the Japanese company's financial profile on a mid-cycle basis given improved operating performance, solid cash generation, and reduced funding costs after refinancing its debt, Fitch said.The company has shown strong EBITDA profitability, resulting to positive free cash flow generation and EBITDA leverage kept at under 0.5x, the rating agency said.The company now has improved capacity to weather volatility in the NAND memory semiconductor cycle, Fitch said.The rating reflects the company's major position in the NAND industry, driven by advanced technological capability, resilient cost competitiveness, and high barriers to entry.Notable shifts in the company's market share, profit margin, EBITDA leverage, and cash flow could prompt future rating actions.
China's drug regulator granted Yabao Pharmaceutical's (SHA:600351) Beijing subsidiary a drug registration certificate for its ezetimibe tablets, according to a Saturday filing with the Shanghai bourse.Beijing Yabao Biopharmaceutical's drug treats high cholesterol levels by absorbing cholesterol in the intestine, the pharmaceutical company said in its filing.
Sical Logistics (BOM:SICAILOG, NSE:520086) board approved availing credit facilities of up to 1.15 billion Indian rupees from Axis Bank (NSE:AXISBANK, BOM:532215), according to a Saturday filing on Indian bourses.Shares of the company rose over 4% in Monday's trade.The package includes a cash credit facility of up to 150 million rupees, a bank guarantee facility of up to 150 million rupees, and a term loan refinancing facility of up to 850 million rupees, the filing said.