BAOFENG ENERGY(600989) 上海证券报·2025-05-14 19:32Core Viewpoint - The company plans to repurchase shares to implement an employee stock ownership plan or equity incentive program, with a total repurchase fund ranging from RMB 1 billion to RMB 2 billion [2][3]. Summary by Sections Repurchase Plan Overview - The repurchase will be conducted through centralized bidding and is expected to enhance market confidence and align the stock price with its intrinsic value [9]. - The repurchase period is set for up to 12 months from the board's approval date, starting from May 14, 2025 [4][10]. Financial Details - The total amount for the repurchase is set between RMB 1 billion and RMB 2 billion, with a maximum repurchase price of RMB 22.80 per share [3][12]. - If the maximum fund of RMB 2 billion is utilized at the maximum price, approximately 87.72 million shares could be repurchased, representing about 1.2% of the total share capital [12]. Funding and Implementation - The funding for the repurchase will come from the company's own funds or self-raised funds [15]. - The company has confirmed that there are no plans for share reductions by directors, supervisors, senior management, or major shareholders in the next three to six months [5][18]. Share Structure and Future Impact - The repurchased shares will be used entirely for the employee stock ownership plan or equity incentives, and if not implemented, the unallocated shares will be canceled [19]. - The repurchase is not expected to significantly impact the company's operational activities, financial status, or future development [17][18]. Authorization and Compliance - The board has authorized the management to handle all matters related to the share repurchase, including setting up a dedicated securities account [21][22]. - The company has established a dedicated securities account for the repurchase, ensuring compliance with relevant regulations [25].