Tecon Biology share buyback progresses as planned

Tecon Biology (SZSE: 002100) announced that the share increase plan by its controlling shareholder, Xinjiang Production and Construction Corps State-owned Assets Operation Co., Ltd. ("the Corps State-owned Assets Company"), is progressing. As of February 19, 2025, the Corps State-owned Assets Company has increased its holdings by 18,300,503 shares through centralized bidding via the Shenzhen Stock Exchange, representing 1.3404% of the company's total share capital, for a total consideration of RMB 122,992,594.42. The share increase plan began on November 20, 2024, with a target investment between RMB 100 million and RMB 200 million. Following the transactions, the Corps State-owned Assets Company now holds 312,881,425 shares, accounting for 22.92% of Tecon Biology's total share capital. The company cautioned that the buyback plan remains subject to market risks.