On February 7, Gelonghui | Changjiang Materials (001296.SZ) announced that the company plans to repurchase the company's shares through centralized bidding through the Shenzhen Stock Exchange trading system; the repurchase amount is not less than RMB 40 million (inclusive) and not more than RMB 80 million (inclusive). The repurchase price does not exceed RMB 20.00 per share (inclusive). The repurchase period is 12 months from the date the board of directors reviews and approves the share repurchase plan.
According to the maximum repurchase amount of 80 million yuan (inclusive) and the maximum repurchase price of 20.00 yuan/share (inclusive), the estimated number of repurchases is 4 million shares (inclusive), accounting for about 3.74% of the company's total share capital; based on the lower repurchase amount of 40 million yuan (inclusive) and the upper repurchase price of 20.00 yuan/share (inclusive), the estimated number of repurchases is 2 million shares (inclusive), accounting for about 1.87% of the company's total share capital. The specific number of shares to be repurchased is based on the actual number of shares repurchased at the end of the repurchase period or completion of the repurchase.