Jereh Oilfield Services initiates share repurchase program

Yantai Jereh Oilfield Services Group (SZSE: 002353) has announced the commencement of its share repurchase program, initially repurchasing 218,000 shares on May 26, 2025. The shares, representing 0.02% of the company's total share capital, were acquired through a dedicated securities account at prices ranging from CNY 34.13 to CNY 34.55 per share. The total transaction value amounted to CNY 7,496,728.00 (excluding transaction costs), funded by the company's own capital and a special loan for share repurchase. The repurchase aligns with the previously approved plan to allocate between CNY 15,000,000 and CNY 25,000,000 for share buybacks, capped at CNY 48.31 per share, for use in equity incentive plans or employee stock ownership programs. The company will continue to execute the repurchase plan within the approved timeframe, adhering to regulatory guidelines and disclosing relevant information as required.