CTM(SH:600711) Zheng Quan Zhi Xing·2025-09-03 10:15Core Viewpoint - The company plans to repurchase shares through a centralized bidding process, with a total amount between RMB 500 million and RMB 600 million, aimed at employee stock ownership plans or equity incentives [1][3][4]. Summary by Sections Repurchase Plan Details - The repurchase amount will not be less than RMB 500 million and not more than RMB 600 million [1][4]. - The source of funds for the repurchase will be self-owned or self-raised funds, including special loans for stock repurchase [1][6]. - The maximum repurchase price is set at RMB 11.82 per share, which does not exceed 150% of the average trading price over the last 30 trading days prior to the board's decision [1][6]. - The repurchase will be conducted through a centralized bidding trading method [1][4]. - The implementation period for the repurchase is set to be no more than 12 months from the board's approval [1][4]. Purpose and Use of Repurchased Shares - The repurchased shares will be used entirely for the company's employee stock ownership plan or equity incentives [1][4][5]. - If the shares are not fully utilized within 36 months after the repurchase, the unutilized shares will be canceled [1][4]. Share Repurchase Quantity and Proportion - The estimated number of shares to be repurchased is between 42.30 million and 50.76 million, accounting for approximately 1.37% to 1.64% of the total share capital [4][5]. - The total share capital of the company is 3,090,611,551 shares [5][9]. Financial Impact and Company Position - As of June 30, 2025, the company's total assets were RMB 40.63 billion, with net assets of RMB 16.29 billion and a debt-to-asset ratio of 55.79% [9]. - The repurchase is expected to enhance investor confidence and improve the company's long-term incentive mechanisms [9][10]. Governance and Compliance - The repurchase plan was approved by the board with unanimous support, requiring no shareholder meeting approval [3][10]. - The company has confirmed that there are no plans for share reductions by major shareholders or executives in the next three to six months [2][11].