Enpack(SZ:002846) Xin Lang Cai Jing·2025-08-29 13:28Core Viewpoint - Guangdong Yinglian Packaging Co., Ltd. has established a share repurchase management system to regulate share buyback behavior, protect investors' legal rights, and enhance corporate governance [1] Group 1: Repurchase Conditions and Situations - The repurchase of shares is applicable for reducing registered capital, employee stock ownership or equity incentives, convertible bond conversions, and maintaining company value and shareholder rights [2] - Specific conditions for repurchase include stock price being below net asset value per share, a cumulative decline of 20% over twenty trading days, and being below 50% of the highest closing price in the past year [2] - The company must have been listed for at least six months, have no major legal violations in the past year, and maintain debt repayment and ongoing operational capabilities post-repurchase [2] Group 2: Repurchase Methods and Funding Sources - The company can repurchase shares through centralized bidding, tender offers, or other methods approved by the securities regulatory authority [3] - Funding for the repurchase can come from self-owned funds, funds raised from preferred shares and bonds, excess funds from common stock, and loans from financial institutions [3] Group 3: Implementation Procedures and Information Disclosure - Proposals for repurchase can be made by eligible proposers to the board, which must evaluate the company's situation before making a decision [4] - The repurchase plan must be approved by the shareholders' meeting or board of directors, with varying requirements based on the situation [4] - The company is required to disclose board resolutions, repurchase plans, and progress during the repurchase period, as well as results and share changes after completion [4] Group 4: Handling of Repurchased Shares - Repurchased shares can be legally canceled or transferred, and shares bought back to maintain company value and shareholder rights can be sold after a specified period under certain conditions [5] - Sale plans must be approved by the board and disclosed in advance, with progress reported during the sale process [5] - The enhancement of the share repurchase management system is expected to help the company standardize capital operations and strengthen market confidence for sustainable development [5]