ChaCha Food concludes share repurchase program, targets employee incentives

ChaCha Food Co. announced the completion of its share repurchase program, which began after its board approved the plan on November 14, 2024. The company used its own funds and a dedicated stock repurchase loan to acquire 3,404,791 shares, representing 0.67% of its total share capital. The total amount spent on the repurchase was CNY 79,990,082.01, with an average transaction price of CNY 23.49 per share. The repurchase price was adjusted from an initial maximum of CNY 47.48 per share to CNY 46.21 per share due to equity distributions in 2024.

The repurchased shares are intended for future implementation of equity incentive or employee stock ownership plans. The company confirmed that the execution aligned with the approved plan, meeting both the minimum and not exceeding the maximum financial thresholds set. This move is not expected to significantly impact the company's financial health, operations, or control structure.

All repurchased shares are held in a dedicated securities account and do not carry voting rights, dividend entitlements, or other related shareholder rights. If the shares are not used for their intended purpose within 36 months, they will be legally cancelled. The company confirmed no insider trading or changes in equity occurred among its directors, supervisors, senior management, controlling shareholders, or their concerted parties during the repurchase period.