Jereh adjusts share repurchase price cap post-equity distribution

Yantai Jereh Oilfield Services Group (SZSE:002353) announced an adjustment to the upper limit of its share repurchase price, effective May 23, 2025, following the implementation of its 2024 annual equity distribution. The new repurchase price cap is set at CNY 48.31 per share, down from the previous CNY 49.00 per share. This adjustment is due to the company’s cash dividend distribution of CNY 6.9 per 10 shares. The company's planned repurchase aims to utilize between CNY 150 million and CNY 250 million of its own funds and dedicated borrowing for stock repurchases, targeting equity incentives or employee stock ownership plans. At the adjusted price limit and repurchase amounts the company anticipates repurchasing between 3,104,900 and 5,174,900 shares. The repurchase plan, initially approved on April 23, 2025, remains valid for 12 months.