天虹股份: 回购报告书

Core Viewpoint - The company plans to repurchase its shares to enhance shareholder value and confidence, with a total fund allocation between 150 million yuan and 200 million yuan, and a maximum repurchase price of 7.54 yuan per share [1][3][4]. Group 1: Repurchase Plan Details - The repurchase will be conducted through the Shenzhen Stock Exchange within 12 months from the approval date by the shareholders' meeting [1][4]. - The purpose of the repurchase is to reduce registered capital, increase earnings per share, and improve long-term company value [3][8]. - The estimated number of shares to be repurchased ranges from approximately 19,893,899 shares (1.70% of total shares) to 26,525,198 shares (2.27% of total shares) based on the maximum repurchase price [4][6]. Group 2: Financial Impact and Conditions - The repurchase funds will be sourced from the company's cash flow and deposits, with the total repurchase amount not significantly increasing the company's financial risk [4][8]. - The company's total assets and net assets are reported at 2.83 billion yuan and 4.098 billion yuan respectively, indicating that the repurchase funds will constitute about 0.71% of total assets [8][9]. - The company has committed to notifying creditors as required by law to protect their interests during the repurchase process [9][11]. Group 3: Shareholder Actions and Compliance - A major shareholder, Five Dragon Trading Co., plans to reduce its holdings by up to 35,065,432 shares (3.00% of total shares) starting from June 23, 2025 [2][9]. - The board of directors and management have been authorized to adjust the repurchase plan as necessary, ensuring compliance with relevant regulations [10][11]. - The company has confirmed that there have been no insider trading or market manipulation activities by its directors or major shareholders in the six months prior to the repurchase decision [11].