Jiangsu broadcasting cable controlling shareholder secures loan for A-share buyback

Jiangsu Broadcasting Cable Information Network Corporation (600959) announced that its controlling shareholder, Jiangsu Cultural Technology Holding Group Co., Ltd., has secured a loan commitment for its previously disclosed A-share shareholding increase plan. The plan, initially announced on November 8, 2025, aims to increase the shareholder's stake in the company by purchasing A-shares through centralized bidding. The total amount is between RMB 100 million and RMB 150 million, with a price cap of RMB 4 per share.

To support this initiative, Xingye Bank Co., Ltd. Nanjing Beijing West Road Branch has issued a "Loan Commitment Letter" to Jiangsu Cultural Technology Holding Group Co., Ltd., in response to national policies encouraging stock repurchases and stake increases. The loan facility provides a maximum of RMB 135 million, with a repayment period of three years. This loan, combined with the shareholder's own funds, will finance the shareholding increase plan.

The company highlighted potential risks, including the possibility that the plan might not be fully implemented if the stock price consistently exceeds the disclosed price range, or if required funds are not fully secured. The company will monitor the situation and provide timely disclosures.