JL Mag Rare-Earth completes share repurchase program

JL Mag Rare-Earth Technology Co., Ltd. announced the completion of its share repurchase program, which saw the company buy back 3,665,542 shares of its A-share social public stock. The total repurchased amount was RMB142,216,877.42 (excluding transaction fees), with prices ranging from RMB30.79 to RMB39.73 per share. This initiative, approved by shareholders on May 28, 2025, aimed to cancel the repurchased shares, thereby reducing registered capital.

The company initially set a repurchase price cap of RMB31.18 per share, later adjusted to RMB42.66 per share on August 26, 2025, to ensure the smooth execution of the program. The total repurchase amount exceeded the lower bound of RMB100,000,000 and did not exceed the upper bound of RMB200,000,000 previously stipulated. The repurchase period ran from August 25, 2025, to September 2, 2025.

The repurchased shares, representing 0.27% of the company's total share capital, will be cancelled, reducing the number of unrestricted circulating shares. This move aligns with the company's strategic planning and reflects management's confidence in its intrinsic value and long-term development, without affecting its operational activities, financial condition, or control structure.