Nanjing Tanker Corp announces share repurchase to reduce capital

Nanjing Tanker Corp (SSE:601975) announced a share repurchase program, approved by its board on August 22, 2025, and by shareholders on September 9, 2025. The company plans to buy back shares worth between 250 million yuan and 400 million yuan using its own funds, at a price not exceeding 4.32 yuan per share. The repurchased shares, estimated to be between 57,870,300 and 92,592,500, will be cancelled to reduce registered capital, representing 1.21% to 1.93% of the total share capital.

The repurchase period extends for 12 months from the date of shareholder approval. The company confirms that its directors, senior management, controlling shareholders, and actual controllers have no plans to reduce their holdings in the next three or six months. The controlling shareholder, China Merchants Energy Shipping Co., Ltd., completed an increase in holdings on March 31, 2025, acquiring 82,591,922 shares for 258,782,758.66 yuan.

Nanjing Tanker Corp has also issued a notice to creditors regarding the capital reduction. Creditors are invited to declare their claims within 30 days of receiving notification or 45 days from the announcement date. This program is not expected to significantly impact the company's daily operations, financial health, or debt repayment capabilities.