Xingyu Automotive Lighting announces share buyback, cash management plan

Changzhou Xingyu Automotive Lighting Systems Co., Ltd. announced a plan to repurchase shares totaling between 200 million yuan and 300 million yuan for an employee stock ownership plan. The buyback, approved by the board on December 10, 2025, will occur over 12 months at a maximum price of 180 yuan per share, using the company's own funds through centralized bidding transactions. This move aims to establish a long-term incentive mechanism and is expected to account for 0.3889% to 0.5834% of the company's total share capital.

In a related announcement, the company also disclosed plans to manage temporarily idle proceeds from its publicly issued A-share convertible bonds. The board approved using up to 200 million yuan of these proceeds for cash management, investing in highly secure, liquid, and low-risk principal-protected wealth management products.

As of November 30, 2025, approximately 303.4435 million yuan of the convertible bond proceeds remained unutilized. This cash management initiative is designed to enhance the efficiency of fund usage and reduce financial costs, contributing to increased shareholder value.