Midea Group secures CNY 1bn loan for share repurchase

Midea Group (SZSE:000333) announced that it has received a loan commitment from Bank of China Shunde Branch for up to CNY 1 billion. The loan is specifically earmarked for the company's ongoing A-share repurchase program, approved on April 8, 2025. The repurchase aims to facilitate equity incentive plans and/or employee stock ownership plans. The approved repurchase plan allows for a maximum price of CNY 100 per share, with a total repurchase amount ranging from CNY 1.5 billion to CNY 3 billion. The loan has a term of up to three years, and the commitment is valid for one year from the date of issuance.