JL Mag secures loan commitment for stock repurchase

Jiangxi JL Mag Rare-Earth Co., Ltd. announced it has received a loan commitment from the Ganzhou branch of the Bank of China, paving the way for its previously announced stock repurchase plan. The commitment provides a maximum of CNY 180 million in financing dedicated to repurchasing the company’s A-shares (SZSE:300748). The loan term will not exceed three years. The repurchase plan, approved on April 25, 2025, aims to repurchase shares using company funds and self-raised funds (including stock repurchase loans), with self-raised funds potentially covering up to 90% of the total repurchase amount. The total repurchase is not less than CNY 10,000,000 and not more than CNY 20,000,000. The repurchase price will not exceed CNY 31.18 per share. The repurchased shares will be cancelled to reduce registered capital. The company emphasized that the loan commitment does not guarantee the final repurchase amount, which will depend on market conditions. JL Mag will disclose information in accordance with regulations.