Cecep Solar Energy chairman proposes share buyback

Cecep Solar Energy (SZSE:000591) announced that its Chairman, Zhang Huixue, has proposed a share repurchase program on April 9, 2025. The aim is to enhance investor confidence, reflecting a positive outlook on the company's future and its inherent value. The proposed buyback will involve purchasing A-shares through centralized bidding via the Shenzhen Stock Exchange, with the repurchased shares to be cancelled to reduce registered capital. The total funds allocated for the buyback will range from CNY 100 million to CNY 200 million. The repurchase price should not exceed 150% of the average trading price of the company's shares in the 30 trading days before the board approves the buyback plan. The repurchase period will be 12 months from the date the shareholders' meeting approves the buyback plan. The Chairman also committed to voting in favor of the buyback proposal at the board meeting and currently has no plans to change his holdings during the buyback period. The company will proceed to develop a feasible buyback plan, fulfilling all necessary review procedures and disclosure obligations.