Hengyi Petrochemical adjusts share repurchase price cap

Hengyi Petrochemical has announced an adjustment to the upper limit of its share repurchase price, reducing it from CNY 8.95 to CNY 8.94 per share, effective July 11, 2025. This adjustment follows the company's decision to cancel 63,703,752 repurchased shares, a move approved at the shareholder's meeting on May 15, 2025, and completed on July 9, 2025. This share cancellation, aimed at reducing registered capital, has altered the company's total share capital from 3,666,321,624 to 3,602,617,872 shares.

The adjustment was calculated according to a formula detailed in the initial repurchase report, accounting for the impact of the share cancellation on the share price. Despite the change in the repurchase price cap, Hengyi Petrochemical confirms that all other aspects of the repurchase plan remain unchanged.

Following the cancellation of shares, Hengyi Group, the controlling shareholder, saw its stake increase from 42.41% to 43.16%, while the stake of Hengyi Investment, a related party, rose from 6.99% to 7.12%. Overall, the aggregate ownership of Hengyi Group and its associates grew from 49.40% to 50.28% due to the cancellation. The company stated that this change in equity will not alter company control. Hengyi Petrochemical assures investors that it will continue to implement the repurchase program within the defined parameters and will comply with all regulatory requirements.