On December 7, Gelonghui丨Renhe Pharmaceutical (000650.SZ) announced that the company plans to use its own capital to repurchase the company's shares through centralized bidding transactions. The total capital of this repurchase is not less than RMB 8000 million (inclusive) and no more than RMB 150.00 million (inclusive). The price of the repurchased shares does not exceed RMB 8.00 per share (inclusive), and the upper price limit of the repurchased shares does not exceed 150% of the average closing price of the company's shares for the 30 trading days prior to the board's decision.

According to estimates of the lower repurchase amount and the upper repurchase price limit, it is estimated that the number of shares that can be repurchased this time is about 10 million shares; according to the upper limit of the repurchase amount and the upper repurchase price, the number of shares that can be repurchased this time is estimated to be about 18.75 million shares. The exact number of shares that can be repurchased is based on the number of shares actually repurchased at the end of the repurchase period.

The repurchased shares are intended to be used for subsequent implementation of equity incentives or employee stock ownership plans. The repurchase implementation period shall not exceed 12 months from the date the board of directors deliberates and approves the share repurchase plan.