CHANGHONG(SH:600839) Shang Hai Zheng Quan Bao·2025-04-09 19:19Core Viewpoint - The chairman of Sichuan Changhong Electric Co., Ltd. proposed a share buyback to enhance shareholder value and investor confidence, with a total buyback amount ranging from RMB 250 million to 500 million [1][5]. Group 1: Proposal Details - The proposal was made by the chairman, Mr. Liu Jiang, on April 9, 2025 [1][2]. - The buyback will involve the company's issued ordinary shares (A-shares) [2]. - The purpose of the buyback includes reducing registered capital and implementing equity incentives, among other legally permitted uses [3]. - The buyback will be conducted through a centralized bidding method on the Shanghai Stock Exchange [4]. - The maximum buyback price will not exceed 150% of the average trading price of the company's shares over the 30 trading days prior to the board's approval [4]. Group 2: Financial and Operational Aspects - The total amount allocated for the buyback is between RMB 250 million and 500 million [5]. - The funding for the buyback will come from the company's own funds or funds raised by the company [6]. - The buyback period will be within 12 months from the date the shareholders' meeting approves the buyback plan, subject to relevant regulations [6]. Group 3: Chairman's Commitment and Shareholding Status - Mr. Liu Jiang has not traded the company's shares in the six months prior to the proposal [7]. - As of the announcement date, Mr. Liu Jiang does not hold any shares in the company and has no plans to buy or sell shares during the buyback period [8]. - Mr. Liu Jiang committed to actively promote the convening of the board and shareholders' meeting to review the buyback proposal and will vote in favor of it [9].