Beingmate announces share repurchase plan, secures loan

Beingmate (SZSE:002570) announced plans to repurchase its A-shares, with a total value ranging from CNY 150 million to CNY 300 million. The repurchased shares will be used for equity incentives or an employee stock ownership plan. The repurchase price will not exceed CNY 9.06 per share. The company has secured a loan commitment of up to CNY 150 million from China CITIC Bank's Hangzhou branch to support the repurchase. Based on the maximum repurchase amount and price, the company estimates it could repurchase up to 33,112,600 shares, representing approximately 3.07% of its current total share capital. The repurchase period will be within 12 months from the date of board approval. The company noted that the repurchase plan is subject to certain risks and conditions and may be adjusted or terminated based on market conditions.