Tongwei completes CNY 2bn share repurchase program

Tongwei Co., Ltd. (SSE: 600438) announced the completion of its share repurchase program, initiated on April 28, 2024, on April 27, 2025. The company repurchased 101,688,812 shares, representing 2.2588% of its total share capital, at prices ranging from CNY 17.43 to CNY 22.94 per share, for a total consideration of CNY 2,007,814,990.13, all funded by Tongwei's own capital. The repurchased shares are intended for employee stock ownership or equity incentives. Additionally, Tongwei reported that its controlling shareholder, Tongwei Group, had recently completed both the unpledging of 30,000,000 shares previously pledged to the National Development Bank of China's Sichuan Branch, as well as a re-pledge of shares. Following these transactions, Tongwei Group holds 45.24% of Tongwei's shares and has 449,260,000 shares pledged, accounting for 9.98% of Tongwei's total share capital and 22.06% of Tongwei Group's holdings. The pledged shares serve as collateral for Tongwei Group's business operations.