CJS(SH:600176) Zheng Quan Ri Bao·2025-10-24 23:38Core Viewpoint - The company plans to repurchase shares ranging from 30 million to 40 million shares at a maximum price of 22 RMB per share, aimed at enhancing its long-term incentive mechanism and utilizing the repurchased shares for employee stock ownership plans [2][4][9]. Group 1: Repurchase Plan Details - The repurchase will occur within 12 months from the approval date by the shareholders' meeting [3][12]. - The funding for the repurchase will come from the company's own funds and self-raised funds [4][16]. - The repurchased shares will be used for the company's equity incentive plan, and any unused shares will be canceled [4][9]. Group 2: Approval Process - The board of directors approved the repurchase plan on September 24, 2025, with unanimous support [6]. - The plan was subsequently approved by the shareholders' meeting on October 21, 2025 [7]. Group 3: Financial Implications - The total amount for the repurchase is capped at 88 million RMB, which represents 1.64% of total assets, 2.86% of net assets, and 6.49% of current assets as of June 30, 2025 [13][17]. - The repurchase price will not exceed 22 RMB per share, which is 150% of the average trading price over the previous 30 trading days [14]. Group 4: Shareholder Considerations - As of the announcement date, key shareholders, including directors and senior management, have no plans to reduce their holdings in the company [4][18]. - The company has established a dedicated repurchase account with the China Securities Depository and Clearing Corporation [22]. Group 5: Loan Arrangements - The company has secured a loan commitment of up to 630 million RMB from a bank to support the share repurchase, covering up to 90% of the total repurchase funds [25]. Group 6: Future Disclosure - The company will adhere to regulatory requirements for timely disclosures regarding the progress of the share repurchase [26].