Lingyuan Iron & Steel announces share repurchase plan

Lingyuan Iron & Steel announced its plan to repurchase shares through centralized bidding, with the total repurchase amount ranging from CNY 50 million to CNY 100 million, sourced from the company's own funds and a dedicated loan. The repurchased shares will be used for employee stock ownership plans or equity incentives. The repurchase price will not exceed CNY 2.55 per share, capped at 150% of the average share trading price in the 30 trading days before the board resolution. The repurchase period is limited to 12 months from board approval. Major shareholders have no current plans to reduce their holdings, alleviating investor concerns. The company acknowledges the risk of the share price exceeding the repurchase price limit and potential changes in market conditions affecting the plan. The repurchase will not materially affect the company's operations, finances, or ability to maintain its listing status.