Core Viewpoint - China Communications Construction Company Limited (CCCC) has approved several key resolutions during its board and supervisory meetings, including a comprehensive budget for 2025, a share repurchase plan, and a long-term mechanism for share buybacks to stabilize stock prices [1][14][22]. Group 1: 2025 Comprehensive Budget - The board has approved the comprehensive budget plan for 2025, which will be submitted for approval at the 2024 annual shareholders' meeting [1][3][15]. - The voting results for the budget approval were unanimous, with all 7 board members voting in favor [4][16]. Group 2: Share Repurchase Plan - The board has agreed to a plan for repurchasing A-shares, which will also require approval at the 2024 annual shareholders' meeting [5][17]. - The repurchase will be conducted through centralized bidding, with a total fund allocation between RMB 5 billion and RMB 10 billion, and a maximum price of RMB 13.58 per share [24][36][38]. - The repurchase is aimed at reducing registered capital and enhancing shareholder value [23][29]. Group 3: Long-term Share Buyback Mechanism - A long-term mechanism for share buybacks has been established, triggered if the stock price falls by 20% over 20 consecutive trading days or drops below 50% of the highest closing price in the past year [8]. - The maximum amount for a single buyback under this mechanism is set at RMB 50 million, with daily repurchases limited to 5%-10% of the trading volume [8]. Group 4: Urban Village Renovation Projects - The board has approved a proposal for urban village renovation projects in Guangzhou, with a total investment of RMB 21.59 billion, where CCCC will contribute 20% of the capital [9][10]. - The financing structure includes RMB 17.27 billion in special loans, accounting for 80% of the total investment [10].
中国交通建设股份有限公司第五届董事会第四十九次会议决议公告