According to the Jinzhou Pipeline announcement, the company previously reviewed and approved the share repurchase plan. It plans to use 100 million yuan to 200 million yuan to repurchase shares through centralized bidding. The repurchase price is not more than 17.81 yuan/share. The share repurchase ratio is expected to account for 1.08% to 2.16% of the total share capital. The repurchase period is no more than 3 months from the date of review and approval by the board of directors. Recently, the company obtained a special loan commitment letter from the Huzhou branch of the Bank of China. The maximum loan amount is 180 million yuan, and the term is not more than three years. The details are subject to the duly signed loan contract.

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