Cangge Mining Co., Ltd. Progress in the First Month of Repurchase: Spent 201 million yuan to buy back 2.5538 million shares at an average price of 78.57 yuan per share

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Zangge Mining Co., Ltd. (hereinafter referred to as “Zangge Mining”) released an announcement on April 2, 2026 regarding progress in its share repurchase. The announcement disclosed the implementation status in the first month after the repurchase plan was approved by the board of directors on March 23. The announcement shows that, as of March 31, the company had cumulatively repurchased 2.5538 million shares, representing 0.16% of the total share capital. The total transaction amount was approximately 201 million yuan. The repurchase price range was 73.63 yuan per share to 81.31 yuan per share, and none of the transactions exceeded the price ceiling set in the plan.

Background of the Repurchase Plan

According to the announcement, on March 23, 2026, Zangge Mining held the 9th (extraordinary) meeting of the 10th session of the board of directors, where the share repurchase plan was approved. Under the plan, the company intends to use not less than 200 million yuan (inclusive) and not more than 400 million yuan (inclusive) of its own funds to repurchase shares at a price not exceeding 85.38 yuan per share (inclusive), for the purpose of implementing an employee share ownership plan or equity incentives. The implementation period of this repurchase is within 12 months from the date the board of directors approves the matter.

Implementation of the Repurchase in the First Month

As of March 31, 2026, through a dedicated securities account for share repurchase, Zangge Mining has completed the first phase of repurchases via centralized bidding transactions. The specific data are as follows:

The announcement states that the source of funds for this repurchase is the company’s own funds. The actual repurchase price has not exceeded the 85.38 yuan per share ceiling set in the plan, which complies with the requirements of the repurchase plan and relevant laws and regulations. Based on the total transaction amount and the number of shares repurchased, the weighted average repurchase price for this repurchase is approximately 78.57 yuan per share.

Compliance Statement

In the announcement, Zangge Mining emphasizes that this repurchase strictly complies with relevant regulatory provisions. No repurchases were conducted during the following periods: first, within the process of occurrence or decision-making of major matters that may have a material impact on the company’s security trading prices, and within the period from such events to the date on which they are required to be disclosed according to law; second, other periods in which repurchases are prohibited as prescribed by the China Securities Regulatory Commission and the Shenzhen Stock Exchange.

At the same time, the company’s repurchase of shares through centralized bidding transactions complies with regulatory requirements, including that the assigned prices were not the price limits on the day’s trading increase, and that no orders were placed on the days of opening call auction, closing call auction, or on trading days without price increase/decrease limits.

Next Steps

The announcement indicates that the company will continue to implement this repurchase plan within the 12-month repurchase period in accordance with market conditions, and will timely fulfill its information disclosure obligations in accordance with relevant laws and regulations. The company reminds investors to pay attention to investment risks.

This repurchase is based on Zangge Mining’s confidence in the company’s future development. By repurchasing shares with its own funds for employee incentives, it helps enhance investors’ confidence and optimize the company’s capital structure.

Statement: There are risks in the market; invest with caution. This article is automatically published by an AI large model based on third-party databases and does not represent Sina Finance’s viewpoint. 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 announcement. If you have any questions, please contact biz@staff.sina.com.cn.

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Responsible editor: Xiao Lang Express