Changbao Steeltube announces progress in share repurchase program

Jiangsu Changbao Steeltube (SZSE:002478) announced the progress of its share repurchase program, initially approved at the company's sixth session of the seventh board meeting. As of March 31, 2025, the company has repurchased 6,666,000 shares, representing 0.74% of the total share capital. The highest transaction price was CNY5.42 per share, and the lowest was CNY4.35 per share. The total expenditure for the repurchase amounted to CNY32,058,007.27 (including transaction fees). The company stated that the repurchase activities adhere to the previously disclosed repurchase plan and relevant regulations. The purpose of the repurchase is to implement an employee stock ownership plan or equity incentive plan. The repurchase price will not exceed CNY6.50 per share, with the total repurchase amount not less than CNY30 million and not more than CNY60 million.