Zhongshan Broad-ocean Motor (002249.SZ) plans to repurchase shares worth 120 million to 200 million yuan and obtain 1.39 billion yuan of special loans to support the repurchase.

Zhongshan Broad-ocean Motor (002249.SZ) announcement, the company has decided to use its own funds and special loan funds for stock repurchase through the secondary market in a centralized bidding trading manner to repurchase some of the company's publicly held shares, for use in future employee stock ownership plans or equity incentive plans. The total amount of funds for repurchase shall not be less than RMB 120 million and not more than RMB 200 million, with a repurchase price not exceeding RMB 7 per share. As of the date of this announcement, the company has obtained a "Loan Commitment Letter" from China Construction Bank Corporation, Zhongshan Branch, agreeing to provide a special loan of RMB 139 million for the company's stock repurchase, with a loan term not exceeding 1 year.