Core Points - The company has adjusted the upper limit of the share repurchase price from RMB 11.85 per share to RMB 11.70 per share following the annual equity distribution for 2024 [1][3] - The adjustment of the repurchase price limit will take effect from June 19, 2025, which is the ex-dividend date for the annual equity distribution [1][2] Summary by Sections Share Repurchase Basic Information - The company approved a share repurchase plan on October 18, 2024, allowing the use of self-owned funds to repurchase A-shares for employee stock ownership plans or equity incentives, with a total repurchase fund of no less than RMB 100 million and no more than RMB 200 million [1] - The repurchase price was initially set at a maximum of RMB 11.85 per share, with a repurchase period of 12 months from the board's approval date [1] Adjustment of Repurchase Price Limit Reason - The adjustment in the repurchase price limit is due to the annual profit distribution plan, which includes a cash dividend of RMB 0.15 per share to all shareholders [2][3] - The share repurchase account will not participate in this profit distribution, and the ex-dividend date is set for June 18, 2025 [2] Details of the Price Adjustment - The new upper limit for the repurchase price is calculated as follows: (previous repurchase price limit - cash dividend) + (new share price × change in circulating shares) / (1 + change in circulating shares) [3] - Since there are no changes in circulating shares, the adjustment results in a new repurchase price limit of RMB 11.70 per share [3][4] Expected Repurchase Quantity - With the adjusted upper limit of RMB 11.70 per share, the estimated number of shares to be repurchased at the upper limit of RMB 200 million is approximately 17.09 million shares, accounting for about 3.34% of the total share capital [4] - At the lower limit of RMB 100 million, the estimated number of shares to be repurchased is approximately 8.55 million shares, accounting for about 1.67% of the total share capital [4] Other Matters - Other aspects of the share repurchase plan remain unchanged, and the company will comply with relevant regulations during the repurchase period [4]