Sichuan Changhong chairman proposes share repurchase

Sichuan Changhong Electric (SSE:600839) announced that Chairman Liu Jiang proposed a share repurchase program on April 9, 2025. The proposal suggests using the company's own funds or self-raised funds to repurchase A-shares through centralized bidding on the Shanghai Stock Exchange. The repurchased shares will be used for reducing registered capital and/or implementing equity incentives, subject to regulatory approval. The proposed repurchase amount is between CNY 2.5 billion and CNY 5 billion, with a repurchase price cap set at 150% of the average trading price in the 30 trading days prior to the board resolution. The repurchase is planned to be completed within 12 months of shareholder approval. Chairman Liu Jiang has pledged to support the proposal at the upcoming board and shareholder meetings. The company will disclose further details and risks as the plan develops.