Wanhua Chemical chairman proposes share buyback plan

Wanhua Chemical Group (SSE:600309) announced today that its chairman, Liao Zengtai, has proposed a plan to repurchase company shares. The buyback aims to safeguard shareholder interests, boost investor confidence, and stabilize the company's market value. The proposed buyback will utilize the company's own funds, targeting between CNY300 million and CNY500 million. The shares repurchased will be used to reduce registered capital and optimize the company's capital structure. The buyback will be executed through centralized competitive trading on the Shanghai Stock Exchange, with the repurchase price capped at 150% of the average share trading price in the 30 trading days preceding the board's review. The proposal is subject to board and shareholder approval, and is expected to be reviewed within the next 12 months.