Core Viewpoint - Changhong Meiling plans to repurchase its A-shares using self-owned and self-raised funds, with a total amount between RMB 150 million and RMB 300 million, aimed at stock incentive programs to enhance investor confidence and improve shareholder returns [1][3][9] Summary by Sections Repurchase Plan - The repurchase will be conducted through centralized bidding, with a maximum price of RMB 10.67 per share, adjusted from RMB 11 due to profit distribution [5][13] - The estimated number of shares to be repurchased ranges from approximately 14,058,107 shares (1.36% of total shares) to 28,116,213 shares (2.73% of total shares) based on the total fund limits [1][8] Purpose of Repurchase - The repurchase aims to boost investor confidence, enhance shareholder returns, and establish a long-term incentive mechanism for the company [3][9] Funding Sources - The funding for the repurchase will come from the company's own funds and self-raised funds, including a commitment from a bank for a maximum loan of RMB 270 million [6][14] Implementation Period - The repurchase period will last up to 12 months from the board's approval date, with conditions for early termination if certain funding thresholds are met [6][12] Shareholder Plans - As of the announcement date, there are no plans for share reduction by directors, supervisors, senior management, or major shareholders during the repurchase period [2][9] Compliance and Conditions - The repurchase complies with relevant regulations and will be adjusted according to any corporate actions such as dividends or stock splits [4][6] Impact on Company Structure - If all repurchased shares are used for stock incentives, the expected changes in shareholding structure will be detailed, indicating a slight increase in shares with limited trading conditions [8][9] Disclosure and Reporting - The company will adhere to strict disclosure requirements throughout the repurchase process, including monthly updates and immediate reporting of significant changes [14][15]
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