Baosteel Union announces share buyback, notifies creditors

Inner Mongolia Baotou Steel Union Co., Ltd. (SSE:600010) announced a share repurchase program approved at the annual shareholders' meeting on May 22, 2025. The company intends to repurchase shares via centralized bidding, utilizing its own funds and special loans. The repurchase aims to enhance shareholder value, boost investor confidence, and stabilize the capital market. The total repurchase amount will range from CNY 100 million to CNY 200 million, with a share price ceiling of CNY 2.73 per share. The estimated repurchase volume is between 36.63 million and 73.26 million shares, representing approximately 0.08% to 0.16% of the company's total share capital, which will be cancelled. Baosteel Union has also notified its creditors, who have 30 days from the initial notice, or 45 days from the publication of this announcement, to request debt repayment or corresponding guarantees.