Zheng Quan Zhi Xing·2025-06-09 12:48Core Viewpoint - BOE Technology Group Co., Ltd. plans to repurchase a portion of its public shares to be canceled and reduce its registered capital, with a funding scale of no less than RMB 1.5 billion and no more than RMB 2 billion, at a maximum repurchase price of RMB 6.11 per share [1][2]. Summary by Sections Repurchase Plan Overview - The purpose of the repurchase is to enhance shareholder value and express confidence in the company's future development [1]. - The repurchase will be conducted through centralized bidding on the Shenzhen Stock Exchange, with all repurchased shares intended for cancellation [1]. - The funding for the repurchase will come from the company's own funds, with a total amount between RMB 1.5 billion and RMB 2 billion [1]. Repurchase Price and Quantity - The maximum repurchase price is set at RMB 6.11 per share, which is 150% of the average trading price over the last 30 trading days prior to the board's decision [1]. - Based on the upper limit of RMB 2 billion, the estimated number of shares to be repurchased is no less than 32 million shares, accounting for approximately 0.85% of the total share capital; at the lower limit of RMB 1.5 billion, it is no less than 24 million shares, about 0.64% of the total [1][2]. Implementation Timeline - The repurchase period will last for no more than 12 months from the date of approval at the shareholders' meeting [1]. - The repurchase may be terminated early under certain conditions, such as completion of the repurchase plan or a decision by the board or management to terminate the plan [1]. Share Structure Changes - After the repurchase and cancellation of shares, the shareholding structure will change, with the public holding more than 10% of the total shares, ensuring compliance with listing conditions [2]. - The repurchase will not affect the company's listing status or control [2]. Financial Impact and Management Commitment - The total assets of the company as of December 31, 2024, are approximately RMB 429.978 billion, with a net asset of about RMB 132.938 billion and a debt ratio of 52.43% [2]. - The board commits that the repurchase will not harm the company's debt servicing ability or ongoing operations [2][3]. Authorization and Compliance - The shareholders' meeting will authorize the board and management to handle all matters related to the repurchase within legal limits [3]. - The company has notified creditors as required by law and has opened a dedicated securities account for the repurchase [3].