CHANGHONG(SH:600839) Zheng Quan Zhi Xing·2025-07-07 16:13Core Viewpoint - Sichuan Changhong Electric Co., Ltd. plans to repurchase its shares through a centralized bidding method, with a total repurchase fund of no less than RMB 250 million and no more than RMB 500 million, aimed at enhancing investor confidence and optimizing corporate governance [1][2][4]. Summary by Sections Repurchase Plan Overview - Total repurchase amount: RMB 250 million to RMB 500 million [1][4]. - Source of funds: Company’s own funds and a special loan for stock repurchase [1][7]. - Purpose of repurchase: For equity incentives [1][4]. - Maximum repurchase price: Not exceeding RMB 14 per share, which is 150% of the average trading price over the last 30 trading days prior to the board's decision [1][7]. Implementation Details - Repurchase method: Centralized bidding trading method [2][4]. - Repurchase period: From June 26, 2025, to June 25, 2026 [4][6]. - Estimated number of shares to be repurchased: Between 17,857,143 and 35,714,286 shares, accounting for 0.39% to 0.77% of the total share capital [4][6]. Financial Impact - The repurchase funds will account for approximately 0.25% to 0.50% of the company's total assets and 1.71% to 3.41% of the net assets attributable to shareholders [8]. - The company believes that the repurchase will not adversely affect its ongoing operations or financial capabilities [8]. Governance and Compliance - The board of directors has authorized the management to handle the repurchase within the approved framework [11]. - There are no plans for share reduction by major shareholders or executives in the next three to six months [2][10]. Future Adjustments - If the company undergoes significant changes such as capital increases or stock dividends, the repurchase quantity and price will be adjusted accordingly [6][7]. - Unused repurchased shares will be canceled if not utilized within 36 months after the repurchase [12].