On October 15, Biwin Storage made an announcement stating that its controlling shareholder, who is also the actual controller and chairman of the company, Sun Chengsi, has proposed to repurchase a certain portion of the company's A-share shares. This repurchase will be conducted through centralized bidding transactions, utilizing either his own funds or funds raised independently. The total repurchase amount is projected to range between RMB 200 million and RMB 250 million. All the repurchased shares will be exclusively earmarked for cancellation, leading to a reduction in the company's registered capital. The upper threshold for the repurchase price has been established at no more than 150% of the average trading price of the shares over the 30 trading days preceding the board's approval of the repurchase proposal. The repurchase period is slated to be within 12 months from the date of obtaining approval from the shareholders' meeting.