FilingReader Intelligence

Gongniu Group boosts share repurchase with loan commitment

May 22, 2025 at 05:10 PM UTCBy FilingReader AI

Gongniu Group (SSE:603195) announced it will increase the sources of funds for its share repurchase program to include both its own capital and self-raised funds, including bank loans, according to an announcement today. The company has received a loan commitment letter from China CITIC Bank for up to CNY 360 million earmarked specifically for repurchasing the company's shares. This change from exclusively using internally held capital was approved by the board on May 22, 2025, and doesn't require shareholder approval. The repurchase plan, initially announced on April 23, 2025, aims to acquire shares for future equity incentive plans, with a price cap of CNY 107 per share and a total amount between CNY 250 million and CNY 400 million. Gongniu Group has yet to commence the buyback and noted that the loan commitment does not represent a guarantee of the final repurchase amount.

This report was generated by FilingReader's AI system from regulatory filings and company disclosures. To request a correction, contact editorial@filingreader.com

SSE:603195Shanghai Stock Exchange

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