Changbao Steeltube continues share repurchase program

Jiangsu Changbao Steeltube (SZSE:002478) announced it has continued its share repurchase program, earmarking the repurchased shares for future employee stock ownership or equity incentive plans. The company has repurchased 6,666,000 shares, representing 0.74% of the company's total share capital, as of February 28, 2025. The highest transaction price was 5.42 yuan per share, while the lowest was 4.35 yuan per share. The total expenditure was 32,058,007.27 yuan (including transaction fees). The repurchase adheres to the company’s previously disclosed repurchase plan and relevant laws and regulations. The buyback program, approved at the company’s Sixth Board of Directors Seventh Meeting, allows for repurchases up to 6.50 yuan per share, with a total repurchase amount between 30 million and 60 million yuan, between July 2024 and July 2025.