Lao Feng Xiang Chairman Proposes B-Share Buyback of 4-8 Million Shares for Capital Reduction

The choice to cancel repurchased shares rather than hold them as treasury stock signals a preference for shrinking the share base over building a buyback reserve — a structural move that affects all remaining holders proportionally, not just those who sell. The 150% price ceiling tied to a pre-review average also caps how aggressively the program can chase the market, leaving execution dependent on where the B-share trades during the window. Whether the proposal clears shareholder approval, and whether the actual repurchase pace approaches the stated range, is the open question worth tracking.