Zhongtong Bus secures CNY 180m loan for share repurchase

Zhongtong Bus Holding (SZSE:000957) announced it has secured a loan commitment from the Industrial and Commercial Bank of China (ICBC) Shandong Branch for a special loan dedicated to funding its share repurchase program. The loan commitment provides for a maximum of CNY 180 million, with a term of up to three years, solely for the purpose of repurchasing company stock. This financial backing supports the company's plan, approved on April 24, 2025, to repurchase shares for employee incentive programs. The repurchase amount will range from CNY 100 million to CNY 200 million, with a per-share price not exceeding CNY 15. The company emphasized that the actual repurchase amount depends on market conditions and will adhere to regulatory guidelines, and has cautioned investors regarding investment risks.