HUA HONG GRACE (01347.HK): Board Approves RMB 300-500 Million A-Share Buyback for Cancellation

NewTimeSpace News: On 12 November 2026, HUA HONG GRACE (01347.HK) published an overseas regulatory announcement setting out a board resolution notice and a share repurchase plan by way of centralised bidding, both filed with the Shanghai Stock Exchange. The board approved the repurchase on 12 November 2026, allowing the Company to buy back part of its issued A shares on the SSE trading system through centralised bidding using its own funds and/or self-raised funds.

The plan sets total repurchase funds at no less than RMB 300 million and no more than RMB 500 million, at a price of no more than RMB 255.55 per share, a cap no higher than 150% of the 30-trading-day average A-share price before the board resolution. The repurchase period is 12 months from shareholder approval. At the price cap, the buyback would cover 1.1739 million to 1.9566 million shares, or about 0.0609% to 0.1015% of total share capital.

All repurchased shares will be cancelled. The proposal was initiated by chairman and president Bai Peng on 29 October 2026, and the board passed it by 8 votes to nil. As at 30 September 2026, the Company's total assets were RMB 118,918,077,335.61 and net assets attributable to shareholders RMB 46,441,560,204.61; the RMB 500 million cap equals 0.42% of total assets and 1.08% of net assets.

The plan remains subject to an exemption from the regulator in the Company's place of incorporation and to shareholder approval, and the Company will convene its fourth extraordinary general meeting of 2026 in due course. The Company flagged risks that the plan may not proceed if the share price stays above the cap or if shareholders do not approve it.