Beijing New Space Technology (SH:605178) Shang Hai Zheng Quan Bao·2025-11-16 18:31Core Viewpoint - The company, Beijing New Space Technology Co., Ltd., has announced a plan to reduce its repurchased shares through centralized bidding, following the completion of its share buyback program aimed at maintaining company value and shareholder rights [1][2]. Summary by Sections Share Buyback Overview - The company repurchased a total of 290,700 shares from November 1, 2022, to December 13, 2022, which represents 0.29% of its total share capital [1]. - As of the announcement date, the company has not yet sold any of the repurchased shares [1]. Reduction Plan Details - The board approved a plan to reduce the repurchased shares within three years of the buyback announcement, specifically from 15 trading days after the current announcement until December 12, 2025 [2][3]. - The maximum number of shares to be sold is 290,700, maintaining the same percentage of 0.29% of the total share capital [2]. Sale Price and Use of Proceeds - The sale price will be determined based on the market price at the time of sale, with a principle that it should not be lower than the average buyback price [4]. - Proceeds from the sale will be used to supplement the company's working capital [4]. Impact on Company Structure - The sale of repurchased shares will not lead to any changes in the company's control or ownership structure [4]. - If the reduction plan is completed, the number of shares held in the repurchase account will decrease from 290,700 to 0 [4]. Management's Assessment - The funds obtained from the sale of repurchased shares are expected to support the company's daily operational needs without significantly impacting its operations, finances, or future development [4]. Compliance and Regulations - The company will adhere to the regulations set forth by the Shanghai Stock Exchange regarding the sale of repurchased shares, including restrictions on sale timing and volume [5][6]. - There are no plans for changes in control as a result of this reduction [7]. Disclosure Commitment - The company commits to timely information disclosure during the share reduction process, in compliance with relevant regulations [7][8].