Baogang Steel Union updates on share buyback program progress

Inner Mongolia Baogang Steel Union Co., Ltd. (Baogang Steel Union) has provided an update on its share repurchase program, which commenced on May 22, 2025, and is expected to conclude by May 21, 2026. The company plans to repurchase shares valued between CNY 100 million and CNY 200 million to reduce registered capital. The repurchase price range has been between CNY 1.79 and CNY 2.72 per share.

As of August 31, 2025, Baogang Steel Union has cumulatively repurchased 12,543,200 shares through centralized bidding, representing 0.028% of the company's total share capital. The total amount spent on these repurchases is CNY 27,500,759.00 (excluding commissions, handling fees, and other transaction costs).

The company's board of directors approved the share repurchase plan on April 17, 2025, with a maximum repurchase price of CNY 2.73 per share, intending to cancel all repurchased shares to reduce its registered capital.