SMEIC(SH:600835) Shang Hai Zheng Quan Bao·2025-11-26 17:41Core Viewpoint - The company plans to repurchase shares through a centralized bidding process, aiming to enhance shareholder value and reduce registered capital due to the low trading price of its B shares compared to net asset value [5][6][9]. Summary by Sections 1. Share Repurchase Plan - The company intends to repurchase no less than 10,227,393 shares and no more than 20,454,786 shares of its B shares [2][5]. - The repurchase will be funded by the company's own funds and is aimed at canceling the shares to reduce registered capital [3][8]. 2. Repurchase Details - The maximum repurchase price is set at $1.920 per share, which is capped at 150% of the average trading price over the 30 trading days prior to the board's decision [3][7]. - The repurchase period will last up to 12 months from the date of shareholder approval [4][6]. 3. Purpose of the Repurchase - The repurchase is motivated by the low liquidity and market capacity of the B share market, with the goal of increasing earnings per share and enhancing company value [5][6]. 4. Financial Impact - The total estimated cost of the repurchase, if fully executed, would be approximately RMB 27,830.55 million, which represents about 0.79% of total assets and 1.70% of net assets as of December 31, 2024 [8][9]. 5. Shareholder Communication - The company has confirmed that its major shareholders do not have plans to reduce their holdings in the next six months [3][10]. 6. Regulatory Compliance - The company has established a dedicated securities account for the repurchase and will comply with all relevant legal and regulatory requirements [3][18].