Pingmei (SSE:601666) announces share repurchase progress

Pingmei Co., Ltd. (SSE:601666) announced the progress of its share repurchase plan, initiated on October 30, 2024, with the aim of utilizing repurchased shares for employee stock ownership or equity incentives. As of May 31, 2025, the company has cumulatively repurchased 96,171,340 shares, representing 3.89% of the company's total share capital. The repurchase transactions occurred at prices ranging from CNY 8.26 to CNY 10.70 per share, resulting in a total expenditure of CNY 941,690,562.44, excluding transaction-related expenses. The company's repurchase plan, approved on October 30, 2024, allows for a maximum repurchase price of CNY 14.36 per share, with a total repurchase amount between CNY 500 million and CNY 1 billion. Pingmei stated that it will continue to implement the repurchase plan based on market conditions and in compliance with relevant regulations.