Shen Lian Bio progresses with share repurchase plan

Shanghai Shen Lian Biomedical Corporation (SSE: 688098) has announced an update on its ongoing share repurchase program. Between November 26, 2024 and February 28, 2025, the company repurchased 3,416,473 shares, representing 0.8320% of the total share capital. The shares were acquired through centralized bidding transactions, with prices ranging from ¥5.47 to ¥6.29 per share. The total expenditure for the repurchases amounted to ¥19,995,169.13, excluding transaction costs. The company intends to use the repurchased shares for employee stock ownership plans, equity incentives, or convertible corporate bonds. The repurchase plan, approved on November 25, 2024, allows for a maximum repurchase amount of ¥40 million, with a share price not exceeding ¥7.86.