Securities Code: 002576 Securities Abbreviation: Tongda Power Announcement No.: 2026-026
Jiangsu Tongda Power Technology Co., Ltd. Announcement on Early Termination of Company Share Repurchase and Results of Repurchase Implementation
The Company and all members of the Board of Directors guarantee the truthfulness, accuracy, and completeness of the information disclosed, and are free from any false records, misleading statements, or material omissions.
Jiangsu Tongda Power Technology Co., Ltd. (hereinafter referred to as the "Company") convened the seventh meeting of the seventh Board of Directors on June 16, 2026, and reviewed and approved the "Proposal on Early Termination of Company Share Repurchase." The Company has decided to terminate the share repurchase program early. The relevant matters are hereby announced as follows:
I. Basic Information on Company Share Repurchase
On April 9, 2025, the Company convened the eleventh meeting of the sixth Board of Directors and reviewed and approved the "Proposal on Company Share Repurchase Plan." It was agreed that the Company would use its own funds to repurchase a portion of its RMB ordinary shares (A shares) through centralized bidding transactions, for the purpose of implementing employee stock ownership plans or equity incentive plans. The repurchase price would not exceed RMB 15 per share, with a total repurchase fund of no less than RMB 30 million (inclusive) and no more than RMB 50 million (inclusive). The specific number of shares to be repurchased and their proportion to the total share capital would be subject to the actual number of shares repurchased upon expiration of the repurchase period. The implementation period would not exceed 12 months from the date the Board of Directors approved the repurchase plan. For details, please refer to the "Proposal on Company Share Repurchase Plan" (Announcement No.: 2025-002) and the "Share Repurchase Report" (Announcement No.: 2025-004) disclosed by the Company on April 10, 2025, and April 12, 2025, in the designated information disclosure media "Securities Times," "China Securities Journal," "Shanghai Securities News," and the CNINFO website (http://www.cninfo.com.cn).
In accordance with the "Self-Regulatory Guidelines No. 9 for Listed Companies of Shenzhen Stock Exchange – Share Repurchases" and the "Share Repurchase Report," if the Company distributes dividends, bonus shares, or capital reserve transfers during the share repurchase period, the Company will adjust the repurchase price accordingly in accordance with the relevant regulations of the China Securities Regulatory Commission and the Shenzhen Stock Exchange from the date of ex-rights and ex-dividend. Based on the above principle for adjusting the repurchase price, after the implementation of the Company's 2024 annual equity distribution plan, the upper limit of the repurchase price for the Company's shares was adjusted from RMB 15.00 per share (inclusive) to RMB 14.92 per share (inclusive). For details, please refer to the "Announcement on Adjusting the Upper Limit of Share Repurchase Price after the Implementation of the 2024 Annual Equity Distribution" (Announcement No.: 2025-029) disclosed by the Company on July 10, 2025, in the designated information disclosure media "Securities Times," "Shanghai Securities News," and the CNINFO website (http://www.cninfo.com.cn).