Securities Code: 301120
Securities Abbreviation: XinHuaDu Special Electric
Announcement No.: 2026-053
XinHuaDu Special Electric Co., Ltd.
Share Repurchase Report
The Company and all members of the Board of Directors guarantee that the content of this information disclosure is true, accurate, and complete, and that there are no false records, misleading statements, or significant omissions.
Key Information Highlights:
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Type of shares to be repurchased: Non-tradable A-shares
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Total amount of funds for share repurchase: Not less than RMB 25 million (inclusive) and not exceeding RMB 48 million (inclusive).
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Purpose of proposed share repurchase: Equity incentives or employee stock ownership plans
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Price range for share repurchase: Not exceeding RMB 23.00 per share (inclusive).
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Source of funds for share repurchase: Existing capital and a portion of surplus funds obtained from the initial public offering.
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Number of shares to be repurchased and proportion of total share capital: Based on the upper and lower limits of the total repurchase funds and the upper limit of the repurchase price, it is estimated that the number of shares to be repurchased will be approximately 1,086,957 shares (rounded) to 2,086,956 shares (rounded), accounting for approximately 0.29% to 0.56% of the company's total share capital. The specific number of shares repurchased shall be subject to the actual number of shares repurchased upon the expiration of the repurchase period.
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Whether related shareholders have a share reduction plan:
The Company disclosed the "Announcement on Pre-disclosure of Share Reduction Plan by Controlling Shareholders, Actual Controllers and Their Concerted Parties" (Announcement No.: 2026-039) on June 25, 2026. The controlling shareholders, actual controllers, and their concerted parties planned to reduce their holdings of company shares by no more than 11,193,700 shares through centralized bidding or block trading within three months from the date of disclosure. On July 31, 2026, the Company disclosed the "Announcement on Controlling Shareholders, Actual Controllers and Their Concerted Parties Not Reducing Shares and Terminating the Share Reduction Plan in Advance" (Announcement No.: 2026-047), and the aforementioned shareholders terminated the share reduction plan in advance.
Apart from the above, the Company's directors and senior management currently have no clear plans to increase or decrease their holdings of company shares during the repurchase period. If the above personnel plan to increase or decrease their holdings in the future, the Company will strictly fulfill its information disclosure obligations in accordance with the relevant regulations of the China Securities Regulatory Commission and the Shenzhen Stock Exchange.
I. Basic Situation of Raised Funds and Surplus Funds
(I) Basic Situation of Raised Funds
With the approval of the China Securities Regulatory Commission's "Approval for XinHuaDu Special Electric Co., Ltd.'s Initial Public Offering of Shares" (Zheng Jian Xu Ke [2022] No. 378), the Company issued 61.92 million shares of RMB common stock (A shares) at a par value of RMB 1 per share and an issuance price of RMB 13.73 per share. The total amount of raised funds was RMB 850.1616 million. After deducting all issuance expenses, the net amount of raised funds was RMB 754.6897 million. Zhong Shen Zhong Huan Certified Public Accountants (Special General Partnership) audited the capital verification of the company's initial public offering of shares and issued the "Capital Verification Report" (Zhong Huan Yan Zi [2022] No. 0210029). The Company manages the raised funds in a special account. The amount of surplus funds from the company's initial public offering of RMB common stock (A shares) is RMB 238.3362 million.
According to the "Prospectus of XinHuaDu Special Electric Co., Ltd. for Initial Public Offering of Shares on the ChiNext Market" disclosed by the Company, the planned investment projects for the raised funds from the initial public offering are as follows: