On July 3, Gelunhui reported that Jiuzhou Yigui (688485.SH) received a letter from Mr. Wei-Dong Cao, a shareholder, director, and president of the company with more than 5% of the shares, proposing that Beijing Jiuzhou Yigui Environmental Technology Co., Ltd. initiate measures to stabilize stock prices and start the second phase of repurchasing the company's shares. Mr. Cao proposed that the company use its own funds or self-raised funds to repurchase some of the RMB ordinary shares already issued by the company through the Shanghai Stock Exchange trading system in a centralized bidding manner to maintain the company's value, shareholder rights and interests, and stabilize stock prices.
On April 30, 2024, the company disclosed the Annual Report for 2023, and the latest audited net asset value per share of the company was 8.83 yuan. From May 23, 2024 to June 20, 2024, the company's stock has been trading below the latest audited net asset value per share for 20 consecutive trading days, triggering the launch of measures to stabilize stock prices. The total amount of funds for this repurchase is between RMB 20 million (inclusive) and RMB 40 million (inclusive), and the source of funds is the company's own funds or self-raised funds.