Songyang Recycling completes share repurchase program

Guangdong Songyang Recycling Resources (SSE:603863) announced the completion of its share repurchase program, initially disclosed on June 13, 2024. The company repurchased 1,085,000 shares, representing 0.5302% of the total share capital. The repurchase was executed through the Shanghai Stock Exchange trading system at prices ranging from CNY 11.82 to CNY 18.94 per share, with a total transaction value of CNY 15,018,787.05 (excluding transaction costs). The repurchased shares will be used for future employee stock ownership plans or equity incentives and will be transferred within three years. Any shares not transferred within the period will be cancelled following relevant legal procedures. The repurchase was funded by the company's own funds and will not affect the company's operations, financial condition, or control structure. The repurchased shares are held in a dedicated securities account and do not carry shareholder rights such as voting, dividend distribution, or rights to subscribe to new shares or convertible bonds.