Core Viewpoint - The company, Guangdong Fangyuan New Materials Group Co., Ltd., has announced a plan to repurchase and subsequently reduce shares to maintain company value and shareholder rights, involving a total of 3,320,000 shares, which represents 0.65% of the total share capital [1][2]. Summary by Sections Share Repurchase Details - The company repurchased 3,320,000 shares from February 23, 2024, to May 22, 2024, which will be sold through centralized bidding after a twelve-month period following the announcement of the repurchase results [1]. - If the shares are not sold within three years after the announcement, the company will reduce its registered capital and cancel the unsold shares [1]. Reduction Plan - The board approved a plan to reduce up to 3,320,000 shares, not exceeding 0.65% of the total share capital, through centralized bidding from August 26, 2025, to November 25, 2025 [2]. - The funds from the sale will be used to supplement the company's working capital [2]. Shareholder Information - The repurchase account currently holds 23,777,702 shares, representing 4.66% of the total shares, which will decrease to 20,457,702 shares (4.01%) post-reduction [5]. - The company has confirmed that this reduction plan aligns with previous commitments made by the shareholders [5]. Compliance and Regulations - The repurchase and reduction plan complies with the Shanghai Stock Exchange's regulations and guidelines [4]. - The company will adhere to disclosure obligations throughout the process to ensure transparency [4].

Group 1 - The company has approved a plan to reduce its repurchased shares through centralized bidding, with a maximum reduction of 1,931,076 shares, representing 1% of the total share capital [1] - The total amount allocated for the share repurchase was between RMB 80 million and RMB 100 million, with a maximum repurchase price of RMB 20.00 per share [1] - As of March 19, 2024, the company completed its repurchase plan, acquiring a total of 8,110,405 shares, which is 4.20% of the total share capital, with a total transaction amount of RMB 98,859,035.72 [2] Group 2 - The company plans to use the proceeds from the share reduction to supplement its working capital, which will enhance capital efficiency and support ongoing operations [2] - The shareholding structure will remain unchanged post-reduction, with no impact on the company's control [2] - The company confirmed that there were no share trading activities by directors, supervisors, senior management, or major shareholders in the six months prior to the decision to reduce shares [3]

Key Points - The company plans to reduce its repurchased shares through centralized bidding within three months after the announcement, aiming to sell up to 2,347,710 shares, which represents no more than 1% of the total share capital [1][2][3] - The repurchased shares will be sold at market price, and if the company fails to complete the sale within three years, the unsold shares will be canceled [1][2] - The repurchased shares currently held in the special account amount to 12,789,467 shares, which will be reduced to 10,441,757 shares after the planned sale [3] - The purpose of the share reduction is to supplement the company's working capital, and it is not expected to have a significant impact on the company's operations or financial future [3] - The company has confirmed that there will be no change in control as a result of this share reduction plan [4]

Group 1 - The company has approved a plan to reduce its repurchased shares through centralized bidding, allowing for the sale of up to 2,304,000 shares, which is 1.00% of the total shares outstanding [1][2] - The repurchase plan was initially approved on February 7, 2024, with a budget of RMB 30 million to RMB 60 million, and shares were repurchased at prices ranging from a maximum of RMB 6.75 to a minimum of RMB 11.48 per share [1][2] - A total of 7,306,128 shares were repurchased, representing 3.17% of the company's total share capital, and the repurchase was completed by May 7, 2024 [1][2] Group 2 - The planned reduction of repurchased shares will not change the company's control or total share capital, with the share structure remaining at 230,400,000 shares before and after the sale [2][3] - The funds obtained from the sale of repurchased shares will be used to supplement the company's working capital, enhancing the efficiency of fund utilization and maintaining the interests of the company and its investors [2][3] - The difference between the selling price of the repurchased shares and the repurchase price will be accounted for in the company's capital reserve, which will not affect current profits or significantly impact the company's operations and future development [3]