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On July 19, Shiyun Circuit made an announcement revealing its intention to repurchase shares via centralized bidding transactions. The total repurchase amount is set to be no less than 200 million RMB and no more than 300 million RMB, with the repurchase price not exceeding 55 RMB per share. The shares bought back will be earmarked for employee stock ownership plans or equity incentive schemes. Moreover, the repurchase period is stipulated to be no longer than six months from the date of approval by the board of directors. Additionally, Xinhao International, a shareholder of the company, has opted to terminate its share reduction plan ahead of the originally scheduled time. As of the announcement's disclosure date, Xinhao International has not yet proceeded with the share reduction.
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