Zitong Financial App News, China Foreign Transportation (00598) announced that based on the confidence in the company's future development prospects and the recognition of the company's value, combined with the company's current financial situation, operating conditions, valuation and other factors, the company intends to buy back A shares through centralized bidding, which will be used as the share source of the company's equity incentive plan, so as to further promote the company to establish and improve the long-term incentive and restraint mechanism. Promote the maximization of shareholder value and the healthy and sustainable development of the company.

According to the announcement, the number of A shares repurchased this time is not less than 24.64 million shares and not more than 49.28 million shares, accounting for about 0.33% of the company's total issued share capital. The total amount of repurchase funds shall not exceed RMB 299 million yuan. The period for the proposed share repurchase shall be within 9 months from the date on which the board of directors considers and approves the share repurchase plan (that is, April 28, 2022 to January 27, 2023). The repurchase price shall not exceed 6.06 yuan per share (inclusive).