Ningxia Building Materials announced plans to repurchase shares through centralized competitive bidding, with a total amount of no less than 100 million yuan and no more than 200 million yuan, at a price not exceeding 19.47 yuan per share. The repurchased shares will be fully cancelled to reduce registered capital. The buyback period is within three months after shareholder meeting approval. The company's actual controller and controlling shareholder have no plans to reduce their holdings in the next three to six months. The company stated the move aims to carry out market value management, optimize capital structure, and demonstrate management's recognition of the company's intrinsic value and confidence in its development. Meanwhile, the company disclosed a deferred arrangement for resolving horizontal competition issues with Tianshan Cement. The controlling shareholder China National Building Material and the actual controller China National Building Material Group plan to fulfill relevant commitments within two years after shareholder meeting approval.
Ningxia Building Materials Group Co LtdAnnounces share buyback and cancellation to boost market value and optimize capital structure.
Xinjiang Tianshan Cement Co LtdDeferred arrangement for resolving horizontal competition with Ningxia Building Materials may affect Tianshan Cement.
