Zhejiang Medicine secures loan for stock repurchase plan

Zhejiang Medicine announced it has secured a loan commitment letter from China CITIC Bank, Xin Chang Branch for a loan up to CNY180 million to finance its stock repurchase plan. The loan term will not exceed 36 months and will be specifically used for repurchasing the company's shares. The repurchase plan, approved on April 14, 2025, allows the company to repurchase shares using its own or self-raised funds via centralized bidding, earmarked for future employee stock ownership plans or equity incentives. The repurchase price will not exceed CNY 20.83 per share, with a total repurchase amount ranging from CNY100 million to CNY200 million. The repurchase period will not exceed 12 months from the date of board approval. The company cautions that the loan commitment does not guarantee the final repurchase amount, which will depend on the actual number of shares repurchased.