Shaoneng Group increases share repurchase loan facility

Guangdong Shaoneng Group Co., Ltd. (SZSE:000601) announced an update to its share repurchase plan, initially approved in October 2024. The company has amended its loan agreement with the Shaoguan branch of Bank of Communications, increasing the earmarked loan facility from RMB 136.15 million to RMB 160 million. The funds are specifically allocated for the repurchase of the company's shares, representing 3% of the total share capital (32,416,600 shares), at a price not exceeding RMB 6.00 per share. The loan amount has been adjusted to a maximum of 90% of the total repurchase funds, up from the previous 70%, and the loan term has been extended to a maximum of three years. The company affirmed its commitment to continue the repurchase program subject to market conditions and will keep investors informed of further developments.