Zhongtong Bus initiates share repurchase program

Zhongtong Bus Holding announced its first share repurchase on June 16, 2025, under a program approved by the board of directors on April 24, 2025. The company repurchased 2,000,000 shares, representing 0.34% of the company's total share capital, through centralized competitive bidding on the Shenzhen Stock Exchange. The repurchase price ranged from CNY10.58 to CNY10.74 per share, with a total transaction value of CNY21,336,711 excluding transaction costs. The repurchase will be funded from the company's own funds, including dedicated stock repurchase loans. The company intends to repurchase up to CNY200 million worth of shares, but not less than CNY100 million, at a price not exceeding CNY15 per share, for use in equity incentive or employee stock ownership plans. The repurchase program will continue for 12 months from the date of board approval, subject to market conditions and regulatory requirements.