Yutong Technology plans to spend 200 million to 400 million yuan to repurchase shares for employee stock ownership and equity incentives.

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On April 3, 2026, Shenzhen Yutong Packaging Technology Co., Ltd. (hereinafter referred to as “Yutong Technology”) issued an announcement and repurchase report regarding the company’s share repurchase plan. The company plans to repurchase A-shares through centralized bidding transactions, with a total repurchase fund of no less than 200 million yuan and no more than 400 million yuan, at a repurchase price not exceeding 50.35 yuan per share. The repurchased shares will be used for employee stock ownership plans or equity incentives.

Core Content of the Repurchase Plan

According to the announcement, the shares to be repurchased are the company’s already issued RMB ordinary shares (A-shares), with the repurchase method being centralized bidding on the stock exchange. The maximum repurchase price is 50.35 yuan per share, determined based on 150% of the average stock trading price over the 30 trading days prior to the board resolution date. Based on the maximum repurchase amount of 400 million yuan, the estimated number of shares to be repurchased is about 7.94M shares, accounting for 0.86% of the company’s current total share capital; based on the minimum of 200 million yuan, approximately 3.97M shares are expected to be repurchased, accounting for 0.43% of the total share capital. The specific number of shares to be repurchased will be subject to the actual repurchase situation at the end of the repurchase period.

The repurchase period is within 12 months from the date (April 2, 2026) when the company’s Fifth Board of Directors approved the plan. The source of funds is the company’s own funds and/or self-raised funds. If during the repurchase period the use of funds reaches the maximum limit or the company’s board of directors decides to terminate the plan, the repurchase period will end early.

Expected Changes in Equity Structure

The announcement shows that all shares repurchased will be used for employee stock ownership plans or equity incentives and will be locked. Based on the maximum repurchase amount of 400 million yuan, the company’s equity structure is expected to change as follows:

| Share Type | Before Repurchase | After Repurchase | | — | — | — | — | — | | | Number of Shares (Shares) | Proportion of Total Share Capital | Number of Shares (Shares) | Proportion of Total Share Capital | | 1. Restricted Shares | 409,520,281 | 44.49% | 417,464,669 | 45.35% | | 2. Unrestricted Shares | 510,993,219 | 55.51% | 503,048,831 | 54.65% | | Total | 920,513,500 | 100.00% | 920,513,500 | 100.00% |

Based on the minimum repurchase amount of 200 million yuan, the expected equity structure change is as follows:

| Share Type | Before Repurchase | After Repurchase | | — | — | — | — | — | | | Number of Shares (Shares) | Proportion of Total Share Capital | Number of Shares (Shares) | Proportion of Total Share Capital | | 1. Restricted Shares | 409,520,281 | 44.49% | 413,492,475 | 44.92% | | 2. Unrestricted Shares | 510,993,219 | 55.51% | 507,021,025 | 55.08% | | Total | 920,513,500 | 100.00% | 920,513,500 | 100.00% |

Note: The above changes do not consider other factors; the actual repurchase quantity shall prevail.

Financial Impact and Risk Warning

Financial data shows that as of September 30, 2025, Yutong Technology’s total assets amounted to 22.43 billion yuan, and net assets attributable to shareholders of the parent company were 7.94M yuan (unaudited). The maximum repurchase funds of 400 million yuan account for 1.78% of the company’s total assets and 3.47% of net assets. The company states that this repurchase amount will not adversely affect its ongoing operations, profitability, debt repayment ability, or R&D capacity, nor will it lead to changes in control or affect its listing status.

The announcement also highlights several risks, including: the stock price remaining above the repurchase price limit during the repurchase period, leading to partial or no implementation of the plan; occurrence of major events or termination by the board, preventing implementation; the employee stock ownership plan or equity incentive not passing review, requiring cancellation of repurchased shares; significant changes in the company’s operations, financial condition, or external environment leading to plan adjustments or termination. The company will implement the repurchase based on market conditions and fulfill disclosure obligations promptly.

Other Important Arrangements

The company clarifies that if the repurchased shares are not used within 36 months after completion, the unused portion will be canceled following proper procedures. As of the disclosure date, the company’s directors, senior management, controlling shareholders, actual controllers, and shareholders holding more than 5% have no plans to reduce holdings; any future plans will be disclosed as required.

The board has authorized management to handle related matters, including establishing dedicated accounts, determining specific repurchase timing, price, and quantity, with the authorization valid from the date of approval by the board until all related matters are completed.

Disclaimer: The market carries risks; investments should be cautious. This article is automatically published by an AI model based on third-party databases and does not represent Sina Finance’s views. All information herein is for reference only and does not constitute personal investment advice. Please refer to official announcements for actual details. For questions, contact biz@staff.sina.com.cn.

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Editor: Xiao Lang Express