Group 1 - The company plans to repurchase shares through a centralized bidding process to reduce registered capital, optimize capital structure, and enhance shareholder value [2][12][14] - The repurchase will involve A-shares, with a maximum price of 12.43 RMB per share, not exceeding 150% of the average trading price over the last 30 trading days prior to the board's decision [3][13] - The total funds allocated for the repurchase will be between 150 million RMB and 200 million RMB, with an estimated repurchase quantity of approximately 12,067,579 to 16,090,104 shares, representing 0.49% to 0.65% of the total share capital [3][13][14] Group 2 - The company held a temporary shareholders' meeting on July 2, 2025, where the repurchase plan was approved [4][14] - The repurchase and cancellation of shares will reduce registered capital but will not significantly impact the company's debt repayment ability or the protection of bondholders' rights [4][14] - The bondholders' meeting for the 2021 public issuance of corporate bonds is scheduled for July 18, 2025, to discuss the proposal regarding the company's debt repayment and additional guarantees [5][9][14]