C&S Paper updates on share repurchase, exceeding initial value

C&S Paper has provided an update on its share repurchase program, having bought back 21,322,200 shares as of August 31, 2025. This represents 1.66% of the company's total share capital. The repurchases were executed via centralized bidding, with the highest price paid at RMB 8.69 per share and the lowest at RMB 6.01 per share. The total transaction value reached RMB 159,760,541, excluding transaction fees.

The company initially approved a share repurchase program with a total value ranging from RMB 30,000,000 to RMB 60,000,000. This program was subsequently adjusted twice, first to RMB 110,000,000 to RMB 160,000,000, and then to RMB 160,000,000 to RMB 210,000,000. The source of funds was also broadened to include self-owned funds and special bank loans for repurchases.

The repurchased shares are intended for a future employee stock ownership plan or equity incentive program. C&S Paper stated that it will continue to implement the plan within the approved timeframe, in accordance with market conditions and regulations. The repurchase period commenced on April 2, 2025, and is set to conclude on April 1, 2026.