Longquan Pipeline completes restricted stock repurchase and cancellation

Shandong Longquan Pipeline Engineering (SZSE:002671) announced the completion of its repurchase and cancellation of restricted shares. The move, approved by shareholders, involves a total of 872,413 shares, representing approximately 0.1545% of the company's total share capital. The canceled shares relate to its 2020 and 2024 restricted stock incentive plans. 722,413 restricted shares were repurchased under the 2020 plan, priced at CNY 2.35 per share, and 150,000 shares were repurchased under the 2024 plan, priced at CNY 2.00 per share. The total cost of the repurchase was CNY 1,997,670.55, funded from the company's own capital. Following the cancellation, the company's total share capital has decreased from 564,566,759 shares to 563,694,346 shares. The company confirms that the repurchase and cancellation process has been completed through China Securities Depository and Clearing Corporation Limited Shenzhen Branch.