Shang Hai Zheng Quan Bao·2025-10-09 18:58Core Viewpoint - The company has successfully completed a share repurchase program, acquiring a total of 103,773,109 shares, which represents 4.20% of its total share capital, with the repurchase aimed at employee stock ownership plans and equity incentives [3][4][5]. Group 1: Share Repurchase Approval and Plan - On October 30, 2024, the company’s board approved a share repurchase plan, allowing for a maximum price of RMB 14.36 per share and a total repurchase amount between RMB 500 million and RMB 1 billion within a 12-month period [2]. Group 2: Share Repurchase Implementation - The first repurchase occurred on November 28, 2024, with 4,069,800 shares bought at prices ranging from RMB 9.92 to RMB 10.02, totaling approximately RMB 40.63 million [3]. - By October 9, 2025, the company had completed the repurchase of 103,773,109 shares, with the highest price at RMB 10.70 and the lowest at RMB 7.51, using a total of approximately RMB 999.73 million [3]. Group 3: Financial Impact and Funding - The funds used for the repurchase were sourced from the company’s own capital and a special bank loan, ensuring no significant impact on the company's operations, finances, or future development [4]. Group 4: Shareholder Transactions During Repurchase Period - The controlling shareholder, China Pingmei Shenma Group, increased its stake by acquiring 49,502,900 shares, representing 2% of the total share capital, with a total investment of approximately RMB 491.42 million from July 30, 2024, to December 12, 2024 [5]. Group 5: Share Changes and Handling of Repurchased Shares - The repurchased shares will be stored in a dedicated account and are intended for employee stock ownership plans or equity incentives. If not utilized within 36 months, the unallocated shares will be canceled [6].