Shanghai Electric (601727.SH) requests the shareholders' meeting to authorize the board of directors to repurchase shares

Zhitong Finance App News, Shanghai Electric (601727.SH) announced that the company plans to repurchase A shares or H shares (choose one of the two). The company's shareholders' meeting, the A-share shareholders' meeting, and the H-share class shareholders' meeting (hereinafter collectively referred to as the “Class Shareholders' Meeting”) are requested to grant the board of directors a general mandate to decide to repurchase the company's issued A shares or H shares (choose one of the two) in accordance with market conditions and company needs. The details of the authorization are as follows:

1. Authorize the board of directors to repurchase no more than 10% of the company's A shares issued according to market conditions and company needs (calculated based on the total A share capital on the date this bill was reviewed and approved by the shareholders' meeting and class shareholders' meetings) to protect the company's value and shareholders' rights and interests, or use the shares for employee stock ownership plans or equity incentives.

2. Authorize the board of directors to repurchase no more than 10% of the number of H shares issued by the company according to market conditions and company needs (calculated based on the total share capital of H shares on the date this bill was reviewed and approved by the shareholders' meeting and class shareholders' meetings), cancel the repurchased shares and/or hold the repurchased shares as treasury shares (subject to the “Articles of Association” in force at the time).