On November 12, Xinxinandu shares (003038.SZ) announced that the company plans to repurchase some shares through centralized bidding trading using its own funds and special loan funds (hereinafter referred to as "this repurchase"), with a total repurchase amount of RMB 70 million to 120 million. The price of the repurchased shares shall not exceed RMB 22.05 per share (inclusive). The implementation period of the repurchase shall be within 12 months from the date when the board of directors of the company approves the repurchase plan.
The repurchased shares will be used for the company's stock-based incentive or employee stock ownership plan. Based on the upper limit of the repurchase price of RMB 22.05 per share, the estimated range of repurchased shares is approximately 3,174,604 shares to 5,442,176 shares, representing a proportion range of approximately 1.30% to 2.23% of the company's current total share capital. The specific number of repurchased shares will be based on the actual number of shares repurchased when the repurchase period expires.
