Securities code: 002457 securities abbreviation: Ningxia Qinglong Pipes Industry Group Co.Ltd(002457) Announcement No.: 2022-002 Ningxia Qinglong Pipes Industry Group Co.Ltd(002457)
Announcement on the expiration of the repurchase period and the implementation results of share repurchase
The company and all members of the board of directors guarantee that the contents of the announcement are true, accurate and complete without false records, misleading statements or major omissions.
1、 Basic information of the company’s share repurchase
(I) basic information of share repurchase plan
The 9th meeting of the 5th board of directors held by the company on February 5, 2021 deliberated and adopted the proposal on the scheme of repurchasing the company’s shares by centralized bidding. According to the repurchase plan, the company will conduct share repurchase with its own funds through centralized bidding transaction within 12 months from the date when the proposal is considered and approved by the board of directors for equity incentive or the implementation of employee stock ownership plan. The amount of repurchase funds shall not be less than RMB 25 million and not more than RMB 50 million. The repurchase price shall not exceed 8.00 yuan / share. For details, please refer to cninfo.com.cn And other designated information disclosure media.
(II) implementation of share repurchase
1. On February 9, 2021, the company implemented share repurchase for the first time, and disclosed the announcement on the first repurchase of shares of the company (Announcement No.: 2021-010) on February 10, 2021. In addition, according to the detailed rules for the implementation of share repurchase by listed companies of Shenzhen Stock Exchange and other relevant provisions, the company disclosed an announcement on the progress of share repurchase within the first three trading days of each month, For details, please refer to www.cn.info.com.cn Relevant announcements of securities times, securities daily and China Securities News. 2. As of February 5, 2022, the company has repurchased 1505200 shares of the company through the special securities account for stock repurchase through centralized bidding transaction, accounting for about 0.4493% of the total share capital of the company. The maximum price of repurchase is 7.50 yuan / share, the minimum price of repurchase is 7.06 yuan / share, and the total transaction amount is 11075943 yuan (excluding transaction costs).
As of February 5, 2022, the term of the company’s share repurchase has expired.
2、 Description of the difference between the repurchase implementation and the repurchase plan
As of February 5, 2022, the total repurchase amount of the company was 11075943 yuan, which failed to meet the repurchase plan
The lower limit of RMB 25000000 disclosed in the repurchase plan is the same as that in the original repurchase plan
The difference is mainly due to the sensitive period of share repurchase and the share price higher than that set in the share repurchase plan for a long time
Due to the restrictions of comprehensive factors such as price and holiday, the company has less time window for repurchase operation,
At the same time, due to the capital needs of the company’s production and operation, the repurchase rhythm was actively controlled, so the company failed to fully
Complete the repurchase plan. The details are as follows:
1. According to Article 17 of the implementation details, listed companies shall not repurchase shares during the following periods:
(1) Within ten trading days before the announcement of the listed company’s regular report, performance forecast or performance express;
(2) From the date of occurrence of major events that may have a significant impact on the trading price of the company’s shares, or
In the decision-making process, within two trading days after disclosure according to law;
(3) Other circumstances prescribed by the CSRC.
According to the above provisions, the company did not repurchase during the following periodic reports and major events:
2020 annual performance express, performance forecast for the first quarter of 2021, 2020 annual report, the first quarter of 2021
Degree report, 2020 equity distribution period, 2021 semi annual performance forecast and 2021 semi annual report
Performance forecast for the first three quarters of 2021 and the sensitive period of the report for the third quarter of 2021.
See the following table (Table 1) for specific sensitive period time:
Sensitive period project announcement date sensitive period
2020 annual performance express April 14, 2021 March 30, 2021 to April 14, 2021
Performance forecast for the first quarter of 2021 April 14, 2021 March 30, 2021 to April 14, 2021
2020 Annual Report April 28, 2021 April 14, 2021 to April 28, 2021
First quarter report of 2021 April 28, 2021 April 14, 2021 to April 28, 2021
The equity distribution period in 2020 is from May 19, 2021 to May 26, 2021
Semi annual performance forecast for 2021 July 14, 2021 June 30, 2021 to July 14, 2021
Semi annual report for 2021 August 18, 2021 August 4, 2021 to August 18, 2021
Performance forecast for the first three quarters of 2021 October 12, 2021 September 17, 2021 to October 12, 2021
Third quarter report of 2021 October 25, 2021 October 11, 2021 to October 21, 2021
2. During the repurchase period of the company, due to changes in market conditions, when the share price exceeds the price specified in the share repurchase plan
When the share repurchase price is limited, the company cannot repurchase, and there is less time for repurchase.
3. To sum up, during the period of this share repurchase, each time window of the company is short and divided
Cloth is scattered, and the implementation of repurchase is subject to certain restrictions; The share price is higher than the share repurchase stipulated in the share repurchase plan
Longer price time, less time for repurchase; At the same time, due to the capital needs of the company’s production and operation, the repurchase rhythm was actively controlled in some windows, so the company failed to complete the repurchase plan in full.
3、 Shares bought and sold by relevant entities during the repurchase period
Directors, supervisors, senior managers, controlling shareholders, actual controllers and proponents did not buy or sell the company’s shares from the date of the first disclosure of the repurchase to the day before the repurchase result and share change announcement. 4、 Impact of the implementation of share repurchase scheme on the company
The company’s repurchase will not have a significant impact on the company’s finance, operation, R & D, debt performance ability and other aspects. After the implementation of this repurchase, the company’s control will not change, nor will it change the company’s status as a listed company. The equity distribution still meets the listing conditions.
5、 Compliance description
The repurchase carried out by the company complies with the requirements of relevant laws and regulations. The time of share repurchase, the number of shares repurchased and the entrusted period of centralized bidding transaction comply with the relevant provisions of Articles 17, 18 and 19 of the detailed rules for the implementation of share repurchase by listed companies of Shenzhen Stock exchange, as follows:
(I) the share repurchase period of the company complies with the provisions of Article 17 of the detailed rules for the implementation of share repurchase by listed companies of Shenzhen Stock Exchange, that is, the company has not repurchased shares within the following periods:
(1) Ten trading days before the announcement of the company’s regular report, performance forecast or performance express;
(2) From the date of occurrence of major events that may have a significant impact on the company’s stock trading price or in the process of decision-making to two trading days after disclosure according to law;
(3) Other circumstances prescribed by the CSRC.
See Table 1 for specific sensitive period time.
(II) the number of shares repurchased by the company every five trading days complies with Article 18 of the detailed rules for the implementation of share repurchases by listed companies of Shenzhen Stock Exchange, namely:
The cumulative trading volume of the company’s shares in the five trading days before the date of the first share repurchase (i.e. February 9, 2021) (i.e. the five trading days between February 2, 2021 and February 8, 2021) was 12180905 shares. During the repurchase period, the number of shares repurchased by the company every five trading days shall not exceed 25% of the cumulative trading volume of the company’s shares in the five trading days before the date of the first repurchase of shares.
(III) the entrusted time and price of the company’s share repurchase comply with the provisions of Article 19 of the detailed rules for the implementation of share repurchase by listed companies of Shenzhen Stock Exchange, that is, the company has not entrusted to repurchase shares at the following trading hours: (1) opening call auction;
(2) Within half an hour before the closing;
(3) There is no limit on the rise and fall of stock prices.
The price of shares repurchased by the company does not reach the price limited by the trading increase of the company’s shares on that day.
6、 Disposal arrangement of repurchased shares
The total number of shares repurchased by the company this time is 1505200, accounting for about 0.4493% of the total share capital of the company. All of them are deposited in the special securities account for repurchases of the company. During the deposit period, the company does not enjoy the voting rights of the general meeting of shareholders, profit distribution, conversion of provident fund into share capital, allotment of shares, pledge and other relevant rights. The company will handle the follow-up processing of repurchased shares in accordance with the Ningxia Qinglong Pipes Industry Group Co.Ltd(002457) repurchase report (Announcement No.: 2021-009) disclosed on cninfo.com on February 9, 2021 and relevant laws and regulations, and fulfill the obligation of information disclosure in time.
It is hereby announced
Ningxia Qinglong Pipes Industry Group Co.Ltd(002457) board of directors
February 7, 2022
