Yangfan New Materials (Zhejiang) Co., Ltd.
Announcement on the Company's Share Repurchase Plan
The Company and all members of the Board of Directors guarantee the content of the information disclosed is true, accurate, and complete, and that there are no false records, misleading statements, or material omissions.
Key Information Prompt:
- Basic Situation of the Repurchase Plan:
(1) Type of shares to be repurchased: RMB ordinary shares (A shares).
(2) Purpose of repurchasing shares: Equity incentive or employee stock ownership plan.
(3) Total amount of funds and price for repurchasing shares: The funds for this share repurchase shall not be less than RMB 30,000,000 and not exceed RMB 60,000,000. The price for repurchasing shares shall not exceed RMB 12.00 per share. The specific total amount of funds for this repurchase shall be based on the actual amount of funds used.
(4) Number of shares to be repurchased and its proportion to the company's total share capital: Calculated based on the upper limit of the repurchase amount of RMB 60,000,000 at a repurchase price not exceeding RMB 12.00 per share, the estimated number of shares to be repurchased is 5,000,000 shares, accounting for approximately 2.13% of the company's current total share capital; calculated based on the lower limit of the repurchase amount of RMB 30,000,000, the estimated number of shares to be repurchased is 2,500,000 shares, accounting for approximately 1.06% of the company's current total share capital. The specific number of shares to be repurchased shall be based on the actual number of shares repurchased upon the expiration of the repurchase period.
(5) Source of funds: Company's own funds and/or self-raised funds.
(6) Method of repurchasing shares: Centralized bidding.
(7) Repurchase period: 12 months.
- Whether relevant shareholders have a share reduction plan.
As of the disclosure date of this announcement, the Company has not received any share reduction plans from its directors, senior management, controlling shareholders, actual controllers, or shareholders holding more than 5% of the shares during the repurchase period and in the next 3 or 6 months. If any share reduction plan is proposed, the Company will fulfill its information disclosure obligations in a timely manner in accordance with laws, regulations, and normative documents.
- Relevant Risk Warnings
(1) Risk that the share repurchase plan cannot be implemented due to the stock price continuously exceeding the upper limit of the repurchase price within the repurchase period.
(2) The repurchased shares will be used for equity incentives or employee stock ownership plans. There is a risk that the repurchased shares cannot be fully granted due to the equity incentive or employee stock ownership plan not being approved by the company's board of directors and shareholders' meeting or other decision-making bodies, or the incentive recipients waiving their subscription rights.
(3) If a major event occurs that significantly affects the company's stock trading price, or if the company's production and operation, financial situation, or external objective circumstances undergo major changes, or if other circumstances lead the board of directors to decide to terminate this share repurchase, there is a risk that the share repurchase plan cannot be smoothly implemented or may be amended or terminated according to regulations.
(4) This share repurchase plan does not represent a commitment by the company to repurchase shares in the secondary market. The company will make repurchase decisions and implement them opportunistically based on market conditions within the repurchase period.
If relevant risks lead to the inability to implement the company's share repurchase plan, the company will fulfill the corresponding deliberation and information disclosure procedures in accordance with laws, regulations, and the "Articles of Association," and will amend or terminate the repurchase plan in a timely manner.