SHANTUI(000680) 中国证券报-中证网·2025-04-23 01:00Core Viewpoint - The company plans to repurchase a portion of its issued A-shares through a centralized bidding process, with a total repurchase amount ranging from RMB 150 million to RMB 300 million, aimed at enhancing investor confidence and establishing a long-term incentive mechanism for employees [2][10]. Summary by Sections Repurchase Plan Details - The repurchase amount will not be less than RMB 150 million and not exceed RMB 300 million [2]. - The repurchased shares will be used for employee stock ownership plans or equity incentive plans, and any untransferred shares after three years will be canceled [2][25]. - The maximum repurchase price is set at RMB 13.88 per share, which is 150% of the average trading price over the last 30 trading days prior to the board's decision [2][11]. Expected Repurchase Quantity - Based on the lower limit of RMB 150 million, the company expects to repurchase at least 10,806,916 shares, accounting for approximately 0.72% of the total issued shares [3][19]. - At the upper limit of RMB 300 million, the expected repurchase quantity is up to 21,613,833 shares, approximately 1.44% of the total issued shares [3][20]. Funding Sources - The repurchase will be funded through the company's own funds or self-raised funds, including a special loan for stock repurchase [4][16]. - The company has secured a loan commitment from a bank for up to RMB 270 million, covering up to 90% of the repurchase amount [16]. Implementation Timeline - The repurchase will occur within 12 months from the board's approval date [6][17]. - The repurchase plan may be terminated early if the maximum funding is utilized or if the board decides to terminate the plan [17]. Compliance and Conditions - The company meets the necessary conditions for the repurchase, including having been listed for over six months and having no major legal violations in the past year [14]. - The board has committed to ensuring that the repurchase will not harm the company's debt repayment ability or ongoing operations [22]. Disclosure Obligations - The company will fulfill its information disclosure obligations throughout the repurchase process, including updates on the progress and any changes to the plan [27].