Jereh Oilfield Services announces share repurchase plan progress

Yantai Jereh Oilfield Services Group (SZSE:002353) announced that its dedicated securities account has not yet purchased any company shares as of April 30, 2025, in accordance with its previously announced repurchase plan. The plan, approved on April 23, 2025, authorizes the company to repurchase shares via centralized competitive bidding, using self-raised funds and special loans for stock repurchase. The repurchased shares will be used for equity incentives or employee stock ownership plans. The total repurchase amount will range from CNY 15,000,000 to CNY 25,000,000, with a repurchase price not exceeding CNY 49.00 per share. The implementation period will last up to 12 months from the date of board approval. The company stated it is actively advancing its application for a special loan for the repurchase and will implement the repurchase plan at its discretion during the repurchase period, subject to market conditions. The company will fulfill its information disclosure obligations in a timely manner.