Zhenhua Heavy Industries announces A-share repurchase plan

Shanghai Zhenhua Heavy Industries (Zhenhua Heavy Industries) announced a plan to repurchase a portion of its A-shares through centralized bidding. The repurchase will utilize the company's own funds or self-raised funds, with a total amount ranging from CNY 50 million to CNY 100 million. The repurchased shares will be used for cancellation to reduce the company’s registered capital. The repurchase price will not exceed 150% of the average trading price of the company's shares in the 30 trading days prior to the board's resolution, capping at CNY 6.93 per share. The repurchase period will not exceed 12 months from the date the shareholders' meeting approves the plan. As of the board resolution date, directors, supervisors, senior management, controlling shareholders, and shareholders holding 5% or more of the company's shares currently have no plans to reduce their holdings in the next 3 to 6 months.