Securities code: 688185 securities abbreviation: Cansino Biologics Inc(688185) Announcement No.: 2022-003 Cansino Biologics Inc(688185) Jinyu Bio-Technology Co.Ltd(600201) company
Proposal on one of the chairman and actual controller of the company
Announcement of the company’s repurchase of a shares
The board of directors and all directors of the company guarantee that there are no false records, misleading statements or major omissions in the contents of this announcement, and bear legal liabilities for the authenticity, accuracy and integrity of its contents according to law.
Important content tips:
The board of directors of Cansino Biologics Inc(688185) Jinyu Bio-Technology Co.Ltd(600201) company (hereinafter referred to as ” Cansino Biologics Inc(688185) ” or “the company”) received the letter on proposing Cansino Biologics Inc(688185) Jinyu Bio-Technology Co.Ltd(600201) company to repurchase A-Shares of the company from Dr. Xuefeng Yu (Yu Xuefeng), chairman and actual controller of the company, on January 21, 2022. Dr. Xuefeng Yu (Yu Xuefeng) proposed that the company buy back some RMB common shares (A shares) issued by the company through the trading system of Shanghai stock exchange with its own funds in the form of centralized bidding trading.
1、 Basic information of the proposer and time of proposal
1. Proposer: Dr. Xuefeng Yu, chairman of the board of directors of the company, one of the actual controllers and shareholder holding 7.22% of the company’s shares
2. Proposed date: January 21, 2022
2、 Reason and purpose of the proposer’s proposal to repurchase shares
Based on the confidence in the company’s future development prospects and high recognition of the company’s value, in order to safeguard the interests of the majority of investors, enhance investor confidence, improve the company’s long-term incentive mechanism, fully mobilize the enthusiasm of the company’s managers and core backbone, improve the team cohesion and competitiveness, and effectively promote the long-term development of the company, The company plans to buy back A-Shares of the company through centralized bidding transaction, and all the repurchased shares will be used for employee stock ownership plan or equity incentive at an appropriate time in the future.
3、 Content of the proposer’s proposal
(I) types of repurchased shares
The type of shares repurchased this time is RMB common shares (A shares) issued by the company.
(II) method of share repurchase
Centralized bidding transaction method.
(III) purpose, quantity, proportion in the total share capital of the company and total capital of the shares to be repurchased
The shares after this repurchase will be used for the company’s employee stock ownership plan or equity incentive. The total capital of this share repurchase shall not be less than RMB 150 million (inclusive) and not more than RMB 300 million (inclusive). If the upper limit of the repurchase price is 446.78 yuan / share, the number of shares repurchased by the company is about 335736 to 671471, accounting for about 0.14% to 0.27% of the total share capital of the company.
(IV) share repurchase price
The share repurchase price shall not exceed RMB 446.78/share (inclusive).
(V) total amount and source of funds for repurchase
The total capital of this share repurchase shall not be less than RMB 150 million (inclusive) and not more than RMB 300 million (inclusive). The source of funds for this repurchase is the company’s own funds.
4、 Situation of the proposer’s purchase and sale of the company’s shares within 6 months before the proposal
The proposer did not buy or sell A-Shares of the company within 6 months before the proposal.
5、 Increase / decrease plan of the proposer during the repurchase period
The proposer has no plan to increase or decrease the A shares of the company during this repurchase.
6、 Proposer’s commitment
The proposer promises to actively promote the company to convene the board of directors as soon as possible to consider the above share repurchase matters, and will vote in favor of the company’s above share repurchase proposal at the board of directors.
7、 Opinions of the board of directors on the share repurchase proposal and subsequent arrangements
In combination with the company’s recent stock price and business development plan, the board of directors of the company believes that it is feasible to repurchase shares at present. With regard to the above proposals, the company has formulated relevant share repurchase plans and submitted them to the seventh extraordinary meeting of the second board of directors for deliberation. For details, please refer to the website of Shanghai Stock Exchange on the same day (www.sse. Com. CN.) The announcement on the resolution of the seventh extraordinary meeting of the second board of directors of Cansino Biologics Inc(688185) Jinyu Bio-Technology Co.Ltd(600201) company (Announcement No.: 2022-004) and the announcement on the scheme of repurchase of A-Shares of the company by centralized bidding transaction (Announcement No.: 2022-005) disclosed.
It is hereby announced.
Board of directors of Cansino Biologics Inc(688185) Jinyu Bio-Technology Co.Ltd(600201) company January 24, 2022
