Broad Ocean Motor concludes share repurchase program for employee incentives

Zhongshan Broad Ocean Motor Co., Ltd. (SZSE:002249) announced the completion of its share repurchase program, acquiring 16,080,700 shares between January 13, 2025, and October 27, 2025. This represents 0.66% of the company's total share capital. The total transaction value amounted to CNY 129,775,379, excluding transaction fees. The repurchase price ranged from CNY 5.27 to CNY 13.09 per share, adhering to board-approved price limits.

The repurchase scheme, approved on November 11, 2024, by the sixth board of directors, aimed to use company funds and a dedicated loan to buy back shares for employee stock ownership or equity incentive plans. The company had adjusted the repurchase price limits multiple times due to equity distribution plans in 2024 and 2025. The final upper limit was set at CNY 15 per share, with an extended implementation period until May 10, 2026, though the program concluded early.

Following the repurchase, all acquired shares will be held in a special account for future employee incentive programs. Assuming full allocation to these plans, the company's restricted tradable shares will increase to 628,748,529 (25.74%), while unrestricted tradable shares will decrease to 1,813,673,453 (74.26%). The company's total share capital remains at 2,442,421,982 shares. This program is not expected to significantly impact the company's financial health or operational capabilities.