Lingyuan Iron & Steel chairman proposes share repurchase

Lingyuan Iron & Steel announced on April 15, 2025, that Chairman Zhang Peng has proposed a share repurchase plan. The proposed repurchase aims to boost investor confidence, stabilize the capital market, and protect shareholder value. The company plans to repurchase A-shares through centralized bidding on the Shanghai Stock Exchange, with the repurchased shares intended for equity incentives and other legally permitted uses. The repurchase price will not exceed 150% of the average A-share trading price in the 30 trading days before the board's decision, and the total repurchase amount will range from CNY 50 million to CNY 100 million, contingent on board approval. The repurchase period is set for 12 months from the date of board approval. The company will follow necessary procedures, providing timely disclosures, while advising investors to remain cautious, as the repurchase plan's implementation is subject to uncertainty.