Sichuan Road & Bridge starts share buyback, gets exemption for prior acquisition

Sichuan Road & Bridge Construction Group Co., Ltd. (SSE:600039) disclosed its first share repurchase program via centralized bidding, acquiring 476,000 shares for a total of CNY 4,155,160 (excluding transaction fees). This represents 0.0055% of the company's total share capital, with prices ranging from CNY 8.70 to CNY 8.76 per share. The buyback, intended for employee stock ownership plans or equity incentives, is part of a larger plan to repurchase shares valued between CNY 100,000,000 and CNY 200,000,000 within 12 months.

Separately, SWS Research Co., Ltd. issued a continuous supervision opinion confirming that Sichuan Provincial Investment Group Co., Ltd. (Shudao Group) was exempt from making a tender offer to acquire Sichuan Road & Bridge Construction Group Co., Ltd. This exemption stems from a strategic reorganization where Shudao Group inherited 68.04% of Sichuan Road & Bridge's shares from the former controlling shareholder, Tiejian Group.

The opinion confirmed that Shudao Group and Sichuan Road & Bridge had fulfilled their reporting and disclosure obligations, operated in compliance with regulations, and adhered to public commitments, with no evidence of damage to the listed company's interests. The acquisition and integration of assets from five companies, including Sichuan Tiejian, Sichuan Hangyan, and Sichuan Zhenjing, are progressing, aligning with Shudao Group's plans to consolidate assets and operations.