Shang Hai Zheng Quan Bao·2025-09-23 19:28Core Viewpoint - The company has successfully completed a share buyback, resulting in a change in the shareholding structure of its controlling shareholder without altering control dynamics [2][5][10]. Buyback Approval and Plan - The company approved a share buyback plan on July 16 and August 6, 2025, allowing for the repurchase of shares at a price not exceeding 28.03 CNY per share, with a total fund allocation between 80 million and 120 million CNY [3][4]. - The buyback period is set from August 6, 2025, to August 5, 2026 [3]. Buyback Implementation - As of September 22, 2025, the company repurchased 5,472,559 shares, accounting for 0.98% of the total share capital, with a total expenditure of 120 million CNY [4][5]. - The buyback was executed in accordance with the disclosed plan, and the average repurchase price was 21.92 CNY per share [4][5]. Share Cancellation Arrangement - The repurchased shares will be canceled, reducing the registered capital of the company, and the cancellation process was initiated on September 24, 2025 [9][11]. - No objections were raised by creditors during the notification period regarding the share buyback [9]. Shareholding Changes - Following the cancellation of shares, the total number of shares will decrease from 556,890,744 to 551,418,185 [10]. - The controlling shareholder's stake will increase from 29.82% to 30.12% without any change in the number of shares held, thus not affecting the control of the company [2][10].