JL Mag Rare-Earth announces progress on A-share repurchase plan

Jiangxi JL Mag Rare-Earth Co., Ltd. (SZSE:300748) has announced updates regarding its previously approved A-share repurchase plan. The company is currently working through administrative steps, including setting up securities accounts and establishing third-party banking custody arrangements. The repurchase plan, approved at the company's annual general meeting in May, allows for a repurchase between CNY 100 million and CNY 200 million, with self-owned or self-raised funds (including special loans for stock repurchase) up to 90% of total funds. The repurchase price is capped at CNY 31.18 per share. As of May 31, 2025, JL Mag Rare-Earth has not yet executed any share repurchases. The company stated it will implement the repurchase plan at its discretion within the repurchase period, based on market conditions, and will continue to disclose information as required.