Shandong Hi-Speed announces share repurchase plan

Shandong Hi-Speed Co., Ltd. (SSE:600350) has announced a share repurchase program with a proposed investment ranging from CNY 200 million to CNY 300 million. The repurchased shares will be used for cancellation to reduce the company's registered capital. The repurchase price will not exceed CNY 15.45 per share, and the process will be conducted through centralized bidding within 12 months of shareholder approval. The company will fund the repurchase using its own capital or self-raised funds. The move aims to safeguard shareholder interests and boost investor confidence. The company has already notified creditors. While there are no explicit plans for insider selling, the company acknowledges potential risks.