Zhejiang Power New Energy (SH:688184) Zheng Quan Zhi Xing·2025-06-11 11:35Core Viewpoint - Zhejiang Pava New Energy Co., Ltd. plans to implement a share buyback program to stabilize its stock price, with a total buyback amount ranging from RMB 10 million to RMB 20 million, using its own funds for employee stock ownership plans or equity incentives [1][5][11] Buyback Plan Details - Total buyback amount: Not less than RMB 10 million and not more than RMB 20 million [1][5] - Source of funds: Self-owned funds [1][7] - Purpose of buyback: For employee stock ownership plans or equity incentives [1][5] - Maximum buyback price: Not exceeding RMB 13.88 per share, which is 150% of the average trading price over the last 30 trading days prior to the board's resolution [1][7] - Buyback method: Centralized bidding trading [1][6] Buyback Timeline - Buyback period: Up to 3 months from the date of approval by the shareholders' meeting [2][5] - Trigger for buyback measures: The stock price has been below RMB 12.5961 for 20 consecutive trading days, meeting the criteria for initiating the buyback [4][5] Shareholder Plans - Certain shareholders may have plans to reduce their holdings in the next 3 to 6 months, while other key stakeholders do not plan to reduce their holdings during this period [2][11] Financial Impact - The buyback amount, if at the upper limit of RMB 20 million, would represent approximately 0.69% of total assets, 0.98% of net assets, and 1.27% of current assets as of December 31, 2024 [10][11] - The company's debt ratio is 29.68%, indicating that the buyback will not significantly impact its debt repayment ability or ongoing operations [10][11] Governance and Authorization - The board of directors has proposed the buyback plan, which requires approval from the shareholders' meeting, scheduled for July 1, 2025 [5][13] - The board is authorized to manage all matters related to the buyback, including adjustments to the plan based on market conditions [13][14]