Kanglong Chemical (03759) announced that in order to maintain the company's value and the rights of the company's shareholders, enhance investor confidence, and comprehensively consider factors such as the company's financial situation, future development and reasonable valuation level, the company plans to use its own funds to repurchase A-shares. The repurchase price of shares shall not exceed RMB 31/share (inclusive), and the total repurchase capital shall not be less than RMB 200 million (inclusive) and not more than RMB 300 million (inclusive). The repurchase of A-shares is intended to be used to cancel and reduce the company's registered capital.
According to the estimated total capital for repurchasing shares of RMB 200 million to RMB 300 million, the price of the repurchased shares is estimated to be no more than RMB 31 per share (inclusive). The estimated number of A shares to be repurchased will be 6,451,613 shares to 9,677,419 shares, accounting for approximately 0.36% to 0.54% of the company's total issued share capital on the date of this announcement, respectively.