LING STEEL(SH:600231) Sou Hu Cai Jing·2025-10-09 23:55Core Viewpoint - The company, Lingyuan Steel Co., Ltd., has announced a share repurchase plan with a total budget between RMB 50 million and RMB 100 million, aimed at implementing equity incentives and other legal purposes [1][2]. Group 1: Share Repurchase Overview - The board of directors approved a share repurchase plan on April 21, 2025, allowing the company to buy back shares using its own funds and a special loan for stock repurchase [1]. - The repurchase amount is set between RMB 50 million and RMB 100 million, with an estimated share repurchase quantity ranging from approximately 19.61 million shares (0.69% of total shares) to 39.22 million shares (1.37% of total shares) based on a maximum repurchase price of RMB 2.55 per share [1]. - The repurchase period is limited to 12 months from the board's approval date [1]. Group 2: Progress of Share Repurchase - As of September 2025, the company has repurchased a total of 8.74 million shares, accounting for 0.31% of the total share capital, with a total expenditure of RMB 17.68 million [2]. - By September 30, 2025, the cumulative repurchased shares reached 14.50 million, representing 0.51% of the total share capital, with total payments amounting to RMB 28.47 million [2]. - The highest and lowest transaction prices during the repurchase were RMB 2.08 and RMB 1.71 per share, respectively [2]. Group 3: Convertible Bond Conversion - As of September 30, 2025, a total of RMB 222.998 million of "Ling Steel Convertible Bonds" has been converted into common shares, resulting in 81,095,079 shares, which is 2.93% of the total shares before conversion [6]. - The remaining unconverted "Ling Steel Convertible Bonds" amount to RMB 217.001 million, representing 49.32% of the total issuance [6]. - In the third quarter of 2025, the conversion amount was RMB 25,000, resulting in 12,687 shares being issued [6].