Jianyou Pharma announces share repurchase plan

Nanjing King-Friend Biochemical Pharmaceutical (SSE:603707) announced a plan to repurchase shares via centralized bidding. The total repurchase amount will range from CNY 20 million to CNY 40 million, sourced from the company's own funds or a dedicated loan from China Merchants Bank Nanjing Branch. The repurchased shares will be used for equity incentives or employee stock ownership plans, with a repurchase price not exceeding CNY 18.75 per share. The repurchase period will last for 12 months from the date of shareholder approval, with a contingency for early termination under certain conditions. While major shareholders currently have no immediate plans to reduce holdings, the company will disclose any future changes according to regulations. The company acknowledges risks including price fluctuations and regulatory changes and will continue to update the market with progress.