Stock Code: 300898 Stock Abbreviation: Panda Dairy Announcement No.: 2026-030
Panda Dairy Group Co., Ltd.
Announcement on the Share Repurchase Plan via Centralized Bidding and Repurchase Report
Important Content Tips:
- Main Content of the Repurchase Plan
(1) Type of shares: RMB ordinary shares (A-shares) issued by the company.
(2) Purpose of repurchase: Equity incentive plan.
(3) Method of repurchase: Centralized bidding.
(4) Price of repurchase: Not exceeding 24 RMB/share (inclusive).
(5) Total repurchase funds: Not less than 15 million RMB and not more than 25 million RMB.
(6) Quantity of shares: Based on the price cap of 24 RMB/share, the estimated number of shares to be repurchased is approximately 625,000 shares (0.5040% of current total capital) at the lower limit, and approximately 1,041,666 shares (0.8401% of current total capital) at the upper limit. The actual quantity is subject to the amount repurchased upon expiration of the period.
(7) Source of funds: Company's own funds.
(8) Repurchase period: Within 12 months from the date the Board of Directors approves the plan.
(9) Account status: The company has opened a dedicated securities account at the Shenzhen Branch of China Securities Depository and Clearing Corporation.
(10) Shareholding plans: As of the disclosure date, the company has not received any plans from directors, senior management, shareholders holding 5% or more, controlling shareholders, or actual controllers to increase or decrease their holdings in the next three or six months.
- Risk Warnings:
(1) Risk that the stock price consistently exceeds the repurchase price cap, rendering the plan unimplementable.
(2) Risk of termination due to major events impacting stock price, board decisions, or failure to meet legal requirements.
(3) Risk that shares cannot be fully granted and are subsequently cancelled due to failure of the equity incentive plan to pass decision-making bodies or refusal by participants.
(4) Risk of adjustment, change, or termination based on market conditions.
(5) Risk of needing to adjust terms due to new regulatory requirements.
The company held the 24th meeting of the 4th Board of Directors on July 7, 2026, and approved the proposal.
I. Repurchase Plan
(1) Purpose: To maintain company value, protect investor interests, enhance investor confidence, and establish a long-term incentive mechanism to attract and retain talent.
(2) Compliance: The repurchase meets the requirements of Article 10 of the Shenzhen Stock Exchange Self-Regulatory Guidelines No. 9.
(3) Method and Price Range:
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Method: Centralized bidding via the Shenzhen Stock Exchange system.
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Price Range: Not exceeding 24 RMB/share, which does not exceed 150% of the average trading price of the 30 trading days prior to the board resolution.
(4) Details:
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Type: RMB ordinary shares (A-shares).
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Funds and Quantity: 15 to 25 million RMB. Estimated 625,000 to 1,041,666 shares.
(5) Source of Funds: Company's own funds.
(6) Implementation Period: 12 months from board approval, subject to early termination if funds are exhausted or the board decides to terminate.
(7) Expected Equity Structure Changes:
| Share Category | Pre-change (Shares) | Pre-change (%) | Post-change (Lower Limit) | Post-change (%) | Post-change (Upper Limit) | Post-change (%) |
|---|---|---|---|---|---|---|
| Restricted Shares | 9,256,452 | 7.4649 | 9,881,452 | 7.9689 | 10,298,118 | 8.3049 |
| Unrestricted Shares | 114,743,548 | 92.5351 | 114,118,548 | 92.0311 | 113,701,882 | 91.6951 |
| Total | 124,000,000 | 100.0000 | 124,000,000 | 100.0000 | 124,000,000 | 100.0000 |
(8) Management Analysis: As of March 31, 2026, the company's total assets were 1,143,913,519.70 RMB. The maximum repurchase amount of 25 million RMB represents 2.1855% of total assets, 2.4043% of net assets, and 3.3417% of current assets, posing no significant impact on operations, finance, or debt-servicing capability.