Tianjin You Fa Steel Pipe Group Stock announced that the company plans to use its own funds to repurchase shares through centralized bidding trading, which will be used to convert convertible bonds of the company. The total repurchase amount is expected to be no less than 100 million and not more than 200 million yuan, and the repurchase price will not exceed 8.39 yuan per share. The repurchase period shall not exceed 12 months from the date of approval by the board of directors. It is estimated that the number of repurchased shares will be approximately 23.8379 million shares, accounting for 1.67% of the total share capital of the company. At the same time, Mr. Zhang Degang, a director of the company, plans to reduce his holdings of no more than 4.71525 million shares of the company, accounting for 0.33% of the total share capital of the company. Other directors, supervisors, controlling shareholders, actual controllers and shareholders holding more than 5% of the shares have no plan to reduce their holdings in the next three months, six months and during the implementation of the repurchase program.