GINWA: Plans to reduce holdings by no more than 2% of repurchased shares to supplement working capital

GINWA announced that the company repurchased a total of 20,557,582 shares from February 23, 2024, to May 22, 2024, accounting for 5.51% of the total share capital. Within six months after the 15 trading days from the date of the announcement, it plans to reduce its holdings of the repurchased shares by no more than 7,465,405 shares through centralized bidding, accounting for 2% of the total share capital. The funds obtained from the reduction will be used to supplement working capital. If the reduction is completed, the holdings in the repurchase special account will decrease to 13,092,177 shares, with the proportion dropping to 3.51%. Due to relevant regulations and market factors, there is uncertainty regarding the reduction