Zheng Quan Ri Bao·2025-10-13 22:46Core Viewpoint - The company plans to repurchase A-shares to enhance shareholder value and maintain company worth, with a total repurchase amount estimated between RMB 749 million and RMB 1.498 billion [1][5][7]. Group 1: Repurchase Plan Details - The total number of A-shares to be repurchased ranges from 50 million to 100 million shares, with a maximum repurchase price set at RMB 14.98 per share [1][7]. - The funding for the repurchase will come from the company's own funds or other legally compliant self-raised funds [1][9]. - The repurchased shares will be fully canceled, leading to a reduction in registered capital [1][3][13]. Group 2: Implementation and Approval Process - The board of directors approved the repurchase plan unanimously during a meeting held on October 13, 2025 [2]. - The repurchase plan is authorized by the company's annual general meeting and does not require further shareholder approval [2][15]. - The implementation period for the repurchase is set to be within three months from the board's approval [6]. Group 3: Financial Impact and Conditions - As of June 30, 2025, the company's total assets were RMB 498.497 billion, with net assets of RMB 232.062 billion, and cash equivalents of RMB 169.143 billion [10]. - The estimated total repurchase amount represents approximately 0.30% of total assets, 0.65% of net assets, and 0.89% of cash equivalents [10]. - The repurchase will not adversely affect the company's operational activities, financial status, or future development [10]. Group 4: Shareholder and Market Considerations - Major shareholders, including the controlling shareholder, have confirmed no plans to reduce their holdings in the next three to six months [1][12]. - The repurchase is expected to increase the proportion of shares held by the controlling shareholder without changing the company's control structure [11]. - The company will adjust the repurchase plan if significant corporate actions occur during the repurchase period [8][10].