Besttone Holding plans share repurchase and capital reduction

Besttone Holding (SSE:600640) announced its intention to repurchase company shares for cancellation to reduce its registered capital. The decision, approved at both the board (May 12, 2025) and shareholder (June 27, 2025) levels, authorizes the company to use between CNY 50 million and CNY 100 million of its own funds for the buyback, at a price not exceeding CNY 16.00 per share. The company has notified its creditors of the plan, allowing them 30 days from notification or 45 days from the announcement date to claim debt repayment or guarantees. The repurchase is intended to enhance shareholder value and optimize the company's capital structure. The company’s proposed repurchase price does not exceed 150% of the average share price 30 days before the announcement. The plan is expected to last no more than 12 months from shareholder approval.