---
title: "YONGGUAN New Material's actual controller proposed that the company repurchase shares for between 30 million and 50 million yuan"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/235390031.md"
description: "The board of YONGGUAN New Material received a proposal from the actual controller, Lü Xinmin, to repurchase a portion of the issued A-shares at a price ranging from 30 million to 50 million yuan. The repurchase funds will be conducted through self-owned or self-raised funds via centralized bidding on the Shanghai Stock Exchange, and the repurchased shares will be used for equity incentives or convertible bond conversions, and will be transferred within three years after the announcement of the implementation results"
datetime: "2025-04-10T09:33:06.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/235390031.md)
  - [en](https://longbridge.com/en/news/235390031.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/235390031.md)
---

# YONGGUAN New Material's actual controller proposed that the company repurchase shares for between 30 million and 50 million yuan

According to the announcement from Zhitong Finance APP, YONGGUAN New Material (603681.SH) stated that on April 10, 2025, the company's board of directors received a letter from the actual controller and chairman Mr. Lü Xinmin proposing that Shanghai YONGGUAN Zhongcheng New Material Technology (Group) Co., Ltd. repurchase its shares. Mr. Lü Xinmin proposed that the company use its own funds or self-raised funds to repurchase a portion of its issued ordinary shares (A shares) through the centralized bidding trading method on the Shanghai Stock Exchange. The total amount of funds for this repurchase will not be less than RMB 30 million (inclusive) and not exceed RMB 50 million (inclusive). The repurchased shares are intended for equity incentives or for conversion into the company's issued convertible bonds, and will be transferred within three years after the announcement of the results of the share repurchase and the changes in shares

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