NEXCHIP (02249.HK): Chairman Proposes A- and H-Share Buy-backs of Up to RMB800m and HK$600m

NewTimeSpace News: On 27 October 2026, Nexchip Semiconductor Corporation (stock code: 2249) published an inside information announcement that its board received a letter dated the same day from chairman Cai Guozhi proposing that the Company buy back its issued RMB ordinary A shares and overseas-listed H shares using its own and/or self-raised funds.

The A-share buy-back would be conducted through centralised competitive bidding on the Shanghai Stock Exchange for a total of not less than RMB500 million and not more than RMB800 million, at a price not exceeding 150% of the average trading price over the 30 trading days before the board approves the plan, within 12 months of approval. The repurchased A shares are intended for employee share ownership and/or equity incentive plans, and any unused shares will be cancelled if not utilised within three years after the results announcement.

The H-share buy-back would total not less than HK$300 million and not more than HK$600 million, with the daily price required to be below 105% of the average closing price over the preceding five trading days, and would run from the date shareholders approve the H-share mandate until it expires. Repurchased H shares will be cancelled and/or held as treasury shares.

Cai did not trade the Company's shares in the six months before the proposal and has no plans to increase or decrease his holdings during the buy-back; he has undertaken to promote board consideration and vote in favour. The buy-backs remain subject to approval procedures and may not proceed as proposed.