C&S Paper updates on share repurchase program, transfers shares to employee plan

C&S Paper has provided an update on its share repurchase program, reporting that as of October 31, 2025, the company has cumulatively repurchased 24,244,700 shares through centralized bidding. This represents approximately 1.88% of its total share capital. The total transaction amount for these repurchases reached CNY 184,101,978 (excluding transaction fees), with prices ranging from a low of CNY 6.01 per share to a high of CNY 8.69 per share.

The company's board initially approved a repurchase scheme ranging from CNY 30,000,000 to CNY 60,000,000. This was subsequently adjusted twice, most recently to a range of CNY 160,000,000 to CNY 210,000,000. The source of funds was also expanded to include both own capital and self-raised funds, including bank repurchase-specific loans.

Notably, 23,000,000 of the repurchased shares were transferred on September 9, 2025, to the "C&S Paper Co., Ltd. - Fourth Phase Employee Stock Ownership Plan" dedicated securities account via non-trade transfer. This leaves 1,244,700 shares remaining in the company's dedicated repurchase account as of the end of October 2025. The company will continue to implement the repurchase plan within the designated period.