Beijing CombiBit Buyback Progress: Spent 9.3 million yuan to repurchase 680k shares, accounting for 18.61% of the planned maximum.

Beijing Compet Sports Technology Co., Ltd. (hereinafter referred to as “Compet”) released an announcement on April 1, 2026 regarding the progress of its share repurchase, disclosing the implementation status of the share repurchase as of March 31, 2026. The announcement shows that the company has cumulatively repurchased 680.1k shares, spending RMB 680.1k, accounting for 18.61% of the upper limit of the proposed repurchase funds.

Key Points Review of the Share Repurchase Plan

On January 9, 2026, Compet held the 18th meeting of the Sixth Session of its Board of Directors, at which it approved the share repurchase plan. According to the announcement, this repurchase is intended to, based on confidence in the company’s future development and recognition of its value, enhance the long-term investment value of the stock, and use the repurchased shares to implement equity incentives, thereby improving the company’s corporate governance structure.

This repurchase will be conducted through a bidding method. The type of shares to be repurchased is Renminbi ordinary shares (A-shares). The price cap shall not exceed RMB 25 per share (based on the average trading price over the 30 trading days prior to the board’s consideration, which is RMB 15.56, and not exceeding 200% of that figure). The total repurchase fund amount will range from RMB 30 million to RMB 50 million. Based on the price cap, the expected number of shares to be repurchased is 1.2 million to 2.0 million shares, accounting for 0.96%-1.61% of the company’s current total share capital.

Regarding the source of funds, the company plans to use its own funds and a special loan for share repurchase provided by the China Bank Zhongguancun Sub-branch. The special loan will not exceed RMB 45 million at most (representing 90% of the repurchase funds), with a loan term of no more than 3 years. The purpose is exclusively for this stock repurchase.

Repurchase Implementation Progress: 680k Shares Repurchased, Spending RMB 9.3 Million

As of March 31, 2026, Compet has, through the repurchase-dedicated securities account and by using continuous bidding, cumulatively repurchased 680,124 shares. The specific details are as follows:

The announcement states that there are no differences between the implementation of this repurchase and the repurchase plan. The repurchase period will be no more than 12 months from the date on which the board approves it, i.e., until January 9, 2027. If, during the period, the repurchase amount reaches the upper limit or lower limit, or the board decides to terminate the repurchase, the repurchase period will end early.

Next Focus: Expectations for Equity Incentives to Take Effect

Compet stated that the repurchased shares will be used to implement equity incentives. This move aims to establish long-term incentive and constraint mechanisms to ensure the realization of the company’s long-term operating objectives. Market analysis believes that, as the repurchase progresses and the equity incentive plan is subsequently implemented, it is expected to further enhance the motivation of management and core employees, providing support for the company’s long-term development.

According to the announcement, within the repurchase period, the company will continue to implement the repurchase plan and, in accordance with regulations, promptly disclose progress. Investors may pay attention to the subsequent execution of the repurchase and the specific arrangements of the equity incentive plan.

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

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