Baofeng Energy nears completion of $1 bn share repurchase

Ningxia Baofeng Energy Group announced significant progress in its share repurchase program, with total expenditures reaching 999.9012 million yuan as of October 2025. The company has repurchased 60,593,400 shares, representing 0.83% of its total share capital. The repurchased shares are intended for use in an employee stock ownership plan or equity incentives.

The repurchases were executed at prices ranging from 15.90 to 17.44 yuan per share. The program, which commenced on May 14, 2025, is scheduled to conclude by May 13, 2026, with an initial target expenditure between 1 billion and 2 billion yuan.

The company's board approved the repurchase plan on May 14, 2025. Ningxia Baofeng Energy Group confirmed it will continue to adhere to relevant regulations and make timely disclosures regarding further developments in the repurchase program.