Chengda Bio: Chairman proposes a buyback of up to 20 million yuan worth of shares.

The announcement from Chengda Bio, Mr. Li Ning, the chairman of the company, proposed that the company repurchase a portion of its shares through centralized competitive bidding trading, to be used for employee stock ownership plans or equity incentives. The total amount of the repurchase funds shall not be less than 10 million yuan, and shall not exceed 20 million yuan. The maximum repurchase price shall not exceed 150% of the average trading price of the company's stock in the 30 trading days before the resolution of the repurchase plan is approved by the board of directors. The source of the repurchase funds shall be part of the excess funds raised from the company's initial public offering of renminbi ordinary shares. The proposer has not bought or sold company shares in the 6 months prior to the proposal, and has promised to actively promote the board of directors' review of the repurchase proposal and vote in favor.