Valin Steel plans share repurchase for capital reduction

Hunan Valin Steel (SZSE:000932) announced a plan to repurchase its A-shares for cancellation, reducing its registered capital. The company intends to spend between ¥200 million and ¥400 million on the buyback, with a maximum repurchase price of ¥5.80 per share. If executed at the maximum price, the company could repurchase between 34.48 million and 68.97 million shares, representing 0.50% to 1.00% of its total share capital. The repurchase will be funded from its own funds or self-raised funds and executed through centralized bidding. The repurchase plan, already approved at the company's extraordinary general meeting, will last no more than 12 months from the date of approval. The company stated the buyback aims to protect shareholder interests and boost investor confidence.