Shanghai Mechanical & Electrical begins B-share buyback program

Shanghai Mechanical & Electrical Industry Co. Ltd. announced its first B-share repurchase, acquiring 145,000 shares on December 15, 2025. This initial buyback represents 0.0142% of the company's total share capital. The shares were purchased at prices ranging from $1.461 to $1.473 per share, totaling $213,129.25, excluding transaction fees.

The company's board approved the repurchase plan, which aims to reduce registered capital by buying back between 10,227,393 and 20,454,786 B-shares. The total repurchase amount is capped at $39,273,200, with a maximum price of $1.920 per share. The repurchase period spans from November 21, 2025, to November 20, 2026.

This move aligns with the company's strategy to reduce its registered capital through a centralized competitive bidding process for its domestically listed foreign shares (B-shares). Shanghai Mechanical & Electrical Industry will continue to disclose the progress of its buyback program in accordance with regulatory requirements.