Ningxia Building Materials: Plan to buy back shares by 100 million to 200 million yuan

Ningxia Building Materials (600449) announced in the evening of August 9 that the board of directors of the company had considered and approved a proposal to repurchase the company's shares by means of centralized bidding transactions. The company intends to repurchase the company's shares of not less than 100 million yuan and not more than 200 million yuan at a price not exceeding 19.47 yuan per share with its own funds, and the repurchase period shall be within three months from the date of approval of the repurchase plan by the shareholders'meeting. The repurchased shares will be used to cancel and reduce the registered capital of the company.

According to the upper limit of the repurchase price of 19.47 yuan per share, the number of shares repurchased is estimated to be 5.1361 million shares to 10.2722 million shares, accounting for 1.07% to 2.15% of the company's total equity.

The company said that the repurchase aims to effectively safeguard shareholders'rights and interests, effectively enhance investor confidence, and further stabilize and enhance the value of the company.