Shanghai Longqi Technology Co., Ltd. buyback progress: a total expenditure of nearly 300 million yuan, completing the lower limit at 120%

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Shanghai Longqi Technology Co., Ltd. (hereinafter referred to as “Longqi Technology”) released an announcement on April 2, 2026 regarding the progress of its share buyback, disclosing the company’s share buyback status as of March 31, 2026. The announcement shows that, as of now, the company has cumulatively repurchased 7.4999 million shares, accounting for 1.44% of the total share capital; it has spent approximately RMB 299.8 million (RMB 299.81975105 million in total) and has completed 120% of the lower limit of the originally planned buyback amount.

Overview of the Share Buyback Plan

On April 8, 2025, the company held a board meeting to review and approve a share buyback proposal. The plan is to repurchase the company’s shares by means of centralized competitive bidding, for use in an employee share ownership plan or equity incentives. The buyback period is from April 8, 2025 to April 7, 2026. The expected buyback funds range from RMB 250 million to RMB 500 million, with a buyback price not exceeding RMB 50 per share (inclusive).

Details on the Progress of the Share Buyback

The announcement states that in March 2026, the company did not implement any share buyback. As of March 31, 2026, the company has cumulatively repurchased 7.4999 million shares through centralized competitive bidding, accounting for 1.44% of the company’s current total share capital. The transaction price range for the repurchased shares was RMB 37.55 per share to RMB 42.49 per share, and the cumulative total amount paid was RMB 299,819,751.05 (excluding transaction fees).

It is worth noting that the company’s total share capital changed due to the listing of H shares. The announcement mentions that Longqi Technology completed its H-share issuance on January 22, 2026 and listed on the Main Board of the Hong Kong Stock Exchange. The total share capital changed from 470.33 million shares to 522.59 million shares. The ratio of the aforementioned cumulative repurchased shares to total share capital is calculated based on the changed total share capital.

Next Steps

Longqi Technology stated that it will strictly comply with regulations including the “Rules for Share Repurchases by Listed Companies” and the “Self-Regulatory Guidance No. 7 on Share Repurchases by Listed Companies of the Shanghai Stock Exchange,” among others, and will, during the remaining buyback period, implement the repurchase from time to time based on market conditions, while promptly fulfilling information disclosure obligations. The company reminds investors to pay attention to investment risks.

Statement: There are risks in the market; invest prudently. This article is automatically published by an AI large model based on third-party databases, and does not represent Sina Finance’s viewpoints. Any information appearing in this article is for reference only and does not constitute personal investment advice. If there are discrepancies, please refer to the actual announcements. If you have any questions, please contact biz@staff.sina.com.cn.

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