JS Corrugating Machinery plans up to 137m yuan share buyback

JS Corrugating Machinery announced a share buyback program, intending to use between 68.5m yuan and 137m yuan in own funds and dedicated bank loans to repurchase its A-shares. The repurchased shares will be used for equity incentives or employee stock ownership plans, with the repurchase price not exceeding 19.00 yuan per share. Based on the maximum repurchase amount, an estimated 7,210,526 shares, representing 1.16% of the company's total share capital, could be repurchased.

The buyback period is set for 12 months from the board's approval on October 23, 2025. The company secured a commitment letter from Industrial and Commercial Bank of China Hubei Branch for a dedicated loan of up to 123m yuan, valid for no more than three years. As of September 30, 2025 (unaudited), the company's total assets were 13.86bn yuan, with net assets attributable to shareholders of 4.29bn yuan.

The board and management confirmed no shareholding reduction plans from directors, supervisors, senior management, controlling shareholders, or shareholders holding 5% or more within the next three to six months. The buyback aims to enhance long-term incentive mechanisms, improve team cohesion, and promote sustainable growth without adversely affecting the company's operations, financial health, or debt repayment capabilities.