JEE(SH:688162) Zheng Quan Zhi Xing·2025-08-25 16:52Core Points - The company has established a share repurchase management system to regulate its share buyback behavior and protect investors' rights [1][2] - The repurchase is deemed necessary to maintain company value and shareholder rights under specific conditions [2][4] - The board of directors must carefully consider the company's financial status and ensure that the repurchase does not harm the interests of shareholders and creditors [2][4] Summary by Sections General Provisions - The share repurchase system is based on relevant laws and regulations, including the Company Law and Securities Law [1] - The company must comply with legal requirements and ensure sustainable development while protecting shareholder interests [2][4] Conditions for Share Repurchase - The company can repurchase shares if the stock price falls below the net asset value per share or if there is a significant decline in stock price over a specified period [2][4] - The repurchase must not exceed 10% of the total issued shares and must be disclosed within three years after the repurchase [4][10] Implementation of Share Repurchase - The company must use legal funds for repurchase, including self-owned funds and funds raised through various financial instruments [10][11] - The repurchase plan must specify the number of shares or total funds to be repurchased, with clear upper and lower limits [11][12] Procedures and Information Disclosure - The company must disclose the repurchase proposal and the board's decision promptly, including details about the proposal and the reasons for the repurchase [24][29] - The company is required to report on the progress of the repurchase and any changes to the plan [33][34] Handling of Repurchased Shares - Repurchased shares must be handled according to the disclosed purposes, either for cancellation or transfer [38][39] - If shares are not transferred as disclosed, they must be canceled after a specified holding period [20][39]