Sunshine Circuits(SZ:300739) Xin Lang Zheng Quan·2025-12-01 12:16Core Viewpoint - Shenzhen Mingyang Circuit Technology Co., Ltd. has not yet implemented its previously disclosed share repurchase plan as of November 30, 2025, despite the plan being approved earlier in May 2025 [1][3]. Summary by Sections Repurchase Plan Overview - The company plans to use self-owned or self-raised funds to repurchase shares through centralized bidding, with a total repurchase amount between 15 million and 25 million yuan [2]. - The upper limit for the repurchase price was adjusted from 18.16 yuan/share to 18.03 yuan/share due to the company's 2024 annual equity distribution [2]. Latest Progress - As of November 30, 2025, the company has not conducted any share repurchases through centralized bidding [3]. - The announcement did not provide specific reasons for the lack of implementation but indicated that the company would consider market conditions for future repurchases within the designated timeframe [3]. Market Attention and Future Expectations - The repurchase plan has garnered market attention since its announcement in May 2025, with the potential number of shares to be repurchased depending on the actual repurchase price [4]. - If the maximum budget of 25 million yuan is fully utilized at the adjusted price of 18.03 yuan/share, approximately 138.65 thousand shares could be repurchased, which will be calculated based on the latest share capital data [4]. - There are about five and a half months remaining until the repurchase deadline on May 13, 2026, and the market is keenly observing how the company will initiate the repurchase based on secondary market performance [4].