Huahong Grace made an announcement stating that on October 29, 2026, the company's board of directors received a share buyback proposal from Bai Peng, who serves as both the chairman and president. In his proposal, Bai Peng recommended that the company should use its internal funds and/or funds raised independently to repurchase its issued A-share stocks. The total repurchase amount is projected to range from RMB 300 million to RMB 500 million (inclusive of both amounts). The repurchased shares are intended for cancellation, thereby protecting the company's value and shareholders' equity. Alternatively, they may be used at an appropriate time for equity incentives, employee stock ownership plans, or other similar purposes. The maximum repurchase price is capped at 150% of the average trading price of the shares over the 30 trading days preceding the board's approval of the repurchase plan. Notably, Bai Peng neither bought nor sold any company shares in the six months leading up to the proposal, and he currently has no intentions to alter his shareholdings during the repurchase period.