Wintime Energy plans share buyback to boost value, optimize capital

Wintime Energy Group Co., Ltd. will implement a share buyback program to repurchase RMB ordinary A shares for cancellation, thereby reducing its registered capital. The company intends to repurchase shares totaling between RMB 300 million and RMB 500 million, using a combination of its own funds and borrowed capital. The maximum repurchase price is set at RMB 2.50 per share.

The buyback will occur through centralized bidding transactions on the Shanghai Stock Exchange, with the repurchase period lasting 12 months from the date the proposal is approved by the general meeting of shareholders. Based on the maximum price, the company expects to repurchase between 120 million and 200 million shares, representing 0.55% to 0.92% of its total share capital.

This initiative is driven by the company's confidence in its future development and a desire to enhance its stock value. The repurchase is not expected to significantly impact Wintime Energy's daily operations, financial performance, or ability to meet debt obligations. The proposal awaits approval from the general meeting of shareholders.