Beijing Shougang to buy back shares for employee incentive program

Beijing Shougang Company Limited plans to repurchase 40m to 80m A-share public shares, representing 0.52% to 1.03% of its total share capital, for an employee equity incentive program. The buyback price will not exceed RMB 6.50 per share, with an estimated total expenditure of RMB 260m to RMB 520m. The shares will be acquired through centralized bidding transactions, funded by the company's own funds and a dedicated stock repurchase loan.

The buyback period is set for up to 12 months from the final approval of the scheme by the board of directors. The board approved the share repurchase on September 29, 2025, and adjusted the funding source on October 22, 2025. This move aligns with the company's strategy to enhance long-term incentive mechanisms, strengthen team cohesion, and promote sustained development.

The company's management has confirmed that the buyback will not negatively impact its operations, profitability, finances, research and development, debt repayment capabilities, or its listing status. As of June 30, 2025, Beijing Shougang's total assets were RMB 12,943,284.30m, and its monetary funds stood at RMB 702,208.46m, indicating ample financial capacity for the repurchase.