Mabwell(SH:688062) Zheng Quan Zhi Xing·2025-07-23 16:24Core Viewpoint - The company plans to repurchase shares through a centralized bidding process, with a total repurchase amount ranging from RMB 25 million to RMB 50 million, aimed at enhancing investor confidence and supporting employee stock ownership plans [1][2][3] Summary by Relevant Sections Repurchase Plan Overview - Total repurchase amount: RMB 25 million to RMB 50 million [1] - Source of funds: Company’s own funds and/or special loans for stock repurchase [1][13] - Purpose of repurchase: To be used for employee stock ownership plans or equity incentives [1][5] - Maximum repurchase price: Not exceeding RMB 35.00 per share, which is 150% of the average trading price over the last 30 trading days prior to the board's decision [1][6][13] Implementation Details - Method of repurchase: Through the Shanghai Stock Exchange trading system via centralized bidding [2][6] - Duration of repurchase: Within 12 months from the board's approval date [2][5] - If the stock is suspended for more than 10 consecutive trading days due to major events, the repurchase plan will be postponed until after the stock resumes trading [2][6] Shareholder and Management Plans - No plans for share reduction by major shareholders, including the controlling shareholder and management, in the next 3 to 6 months [2][15] - The proposal for the repurchase was initiated by the company’s chairman and CEO, Liu Datao, based on confidence in the company's future and long-term investment value [15][16] Financial and Market Context - The company has achieved significant progress in its product pipeline, with multiple innovative drugs in various clinical stages, indicating a strong operational performance [8][9][10] - The company believes its current market valuation is significantly undervalued, which supports the rationale for the share repurchase [8][13] Future Considerations - If the repurchased shares are not utilized within three years, they will be legally canceled [5][17] - The company has secured a loan commitment from CITIC Bank for up to RMB 45 million to support the repurchase [13][14]