Jingxing Paper receives CNY 120m loan commitment for buyback

Zhejiang Jingxing Paper (SZSE:002067) announced it has received a CNY 120 million loan commitment from China Construction Bank (CCB) to finance its share repurchase plan. The loan, detailed in CCB's "China Construction Bank Loan Commitment," is intended to support the company's buyback program aimed at converting company bonds into shares. The loan term will not exceed three years, according to the filing. Jingxing Paper plans to use its own or self-raised funds of no less than CNY 80 million and no more than CNY 150 million to buy back some of the company's shares at a price of no more than CNY 4.00 per share. As of March 31, 2025, the company has not yet implemented the buyback. The company cautioned that the loan commitment does not represent a guarantee of the amount of the repurchase.