Chengde Lolo ups loan for stock buyback, extends term

Hebei Chengde Lolo (SZSE:000848) announced it has re-signed its stock repurchase loan agreement with China Construction Bank, increasing the loan amount and extending the repayment period. The loan limit has been raised from CNY 49,000,000 to CNY 61,660,000 with CNY 2,660,000 already drawn. The remaining CNY 59,000,000 will now be repaid over 36 months instead of the original 12 months. The funds are earmarked specifically for the company's ongoing stock repurchase program. This adjustment follows optimizations to stock repurchase loan policies by authorities. The company stated the loan agreement does not represent a guarantee of the final repurchase amount and will disclose progress regularly. As of May 31, 2025, the company had repurchased 3,000,000 shares at a total cost of CNY 25,828,944 (excluding transaction fees).