Zhejiang NHU shares to be repurchased following chairman's proposal

Zhejiang NHU Company (SZSE:002001) announced that its actual controller and chairman, Hu Baifan, has proposed a share repurchase program. The repurchase is motivated by confidence in the company's future prospects and a desire to enhance shareholder value and incentivize employees through potential equity incentives or employee stock ownership plans. The company plans to repurchase A shares via centralized bidding. The total repurchase amount will range from CNY300 million to CNY600 million, sourced from the company's own funds or self-raised funds. The repurchase period is set within 12 months of board approval, subject to regulatory compliance. The Chairman has pledged to actively promote the repurchase proposal and vote in favor at the board meeting. The company will release a feasible repurchase plan in due course.