STEC(SH:600820) Zhong Guo Zheng Quan Bao - Zhong Zheng Wang·2025-09-13 04:00Core Viewpoint - The announcement details the share buyback plan executed by Shanghai Tunnel Engineering Co., Ltd. (the "Company") and its controlling shareholder, Shanghai Urban Construction (Group) Co., Ltd. (the "Urban Construction Group") [2][6]. Group 1: Buyback Plan Details - The Urban Construction Group plans to increase its stake in the Company using its own or self-raised funds through methods permitted by the Shanghai Stock Exchange, with a total investment cap of RMB 500 million and a minimum of RMB 250 million [2]. - The total number of shares to be acquired is capped at 2% of the Company's total share capital, with no price range set for the buyback [2][4]. - The implementation period for the buyback plan is from May 16, 2025, to May 15, 2026 [2]. Group 2: Implementation Results - As of September 12, 2025, the Urban Construction Group completed the buyback plan, acquiring a total of 62,881,834 shares, which represents exactly 2% of the Company's total share capital [2][4]. - The total amount spent on the buyback was RMB 399,314,689.28, excluding transaction fees [2][4]. Group 3: Compliance and Control - The buyback plan and actions comply with relevant laws and regulations, including the Company Law and Securities Law of the People's Republic of China [5]. - The buyback will not result in a change of control for the Company or its actual controller [6]. - The Company has fulfilled its information disclosure obligations in accordance with the Shanghai Stock Exchange's rules and regulations [6].