Century Huatong secures RMB 900m loan for share repurchase program

Zhejiang Century Huatong Group has obtained a commitment letter for a special loan for share repurchase from China Merchants Bank Shanghai Branch. This loan, for a maximum of RMB 900 million and not exceeding 90% of the transaction consideration, is specifically earmarked for repurchasing company shares. The loan has a three-year term, aligning with re-lending periods, and is secured on a credit basis. The commitment letter is valid for 12 months from its issuance date.

The company's board of directors previously approved a share repurchase plan on November 12, 2025. This plan aims to repurchase shares through centralized bidding for cancellation to reduce registered capital. The total repurchase amount is set to be no less than RMB 50 million and no more than RMB 100 million. The repurchase price will not exceed RMB 28.77 per share. The repurchase period is within 12 months from the approval date by the shareholders' meeting.

This financing initiative supports the company's repurchase program, enhancing capital utilization efficiency without significantly impacting operations or performance. The actual loan amount used will be determined by the final share repurchase scale and will not exceed the total repurchase amount, with specific details to be formalized in a loan agreement.