Baofeng Energy updates on share repurchase program progress

Ningxia Baofeng Energy Group Company Limited announced the latest progress in its share repurchase program, initially approved on May 14, 2025. The company intends to repurchase shares totaling between RMB 1 billion and RMB 2 billion of its own funds, with the program scheduled to conclude by May 13, 2026. The repurchased shares are designated for employee stock ownership plans or equity incentives.

As of September 2025, Baofeng Energy had cumulatively repurchased 60.5934 million shares, representing 0.83% of its total share capital. The repurchase price ranged from RMB 15.90 to RMB 17.44 per share, with a total expenditure of RMB 999.9012 million.

The company affirmed that the repurchase progress aligns with its approved plan and committed to adhering to all relevant regulations. Baofeng Energy will continue to make repurchase decisions based on market conditions and will disclose progress in a timely manner, urging investors to be aware of potential risks.