Shanghai 2345 plans share repurchase and cancellation

Shanghai 2345 Network Holding Group (SZSE:002195) announced its plan to repurchase and cancel a portion of its publicly held shares. The company intends to use between CNY 4,000 and CNY 6,000 for the repurchase, aiming to reduce registered capital and boost investor confidence. The repurchase price will not exceed CNY 8.28 per share. The number of shares to be repurchased is estimated to be between 4.83 million and 7.25 million, accounting for approximately 0.0850% to 0.1275% of the company's total share capital. The company will use its own funds and/or self-raised funds, including a CNY 50 million repurchase loan commitment from ICBC Zhangjiang Technology Sub-branch, with the repurchase period running for six months after shareholder approval. The plan is subject to shareholder approval.