Baofeng Energy advances share repurchase for employee incentives

Ningxia Baofeng Energy Group Co., Ltd. announced progress on its share repurchase program, which began on May 14, 2025, and is expected to conclude by May 13, 2026. The company plans to repurchase shares valued between RMB1 billion and RMB2 billion to support its employee stock ownership plan or equity incentive initiatives.

As of November 30, 2025, Baofeng Energy has repurchased 60.5934 million shares, representing 0.83% of its total share capital. The total amount spent on these repurchases stands at RMB999.9012 million. The shares were acquired at prices ranging from RMB15.90 to RMB17.44 per share.

The company confirmed that the current repurchase progress aligns with its established plan. Baofeng Energy reiterated its commitment to comply with relevant regulations and will continue to disclose progress in a timely manner, urging investors to be aware of potential risks.