四川路桥股份回购实施结果及股份变动公告（2026年最新）

四川路桥股份回购实施结果及股份变动公告详解

四川路桥建设集团股份有限公司股份回购实施结果及股份变动公告详解

要点速览

回购方案首次披露日期：2025年4月30日
回购实施期限：2025年4月30日至2026年4月29日
预计回购金额：1亿元-2亿元人民币
回购价格上限：12.13元/股（权益分派后由12.16元/股调整）
回购用途：主要用于员工持股计划、股权激励及可转债转换
实际回购股份：11,396,900股，占总股本0.1311%
实际回购金额：1.0745亿元人民币，回购均价9.43元/股

详细内容解读

一、回购背景与方案

四川路桥建设集团股份有限公司（“四川路桥”）于2025年4月29日召开董事会，审议通过以自有或自筹资金通过集中竞价交易方式回购公司A股股份，主要用于股权激励或可转债转换。
本次回购金额区间为1亿元至2亿元人民币，回购价上限原为12.16元/股，因2025年半年度权益分派，每股派息0.032元（含税），回购上限调整为12.13元/股。回购实施期限为12个月。

二、回购实施进展

四川路桥自2025年9月12日首次通过集中竞价交易回购股份，截至2026年4月23日已完成回购计划。
公司累计回购11,396,900股，约占总股本的0.1311%。最高成交价为10.00元/股，最低8.62元/股，均价9.43元/股，支付总金额1.0745亿元人民币。所有回购股份已存放于公司专用证券账户。
公司表示，回购行为严格遵守法律法规，不会影响日常经营和财务状况，也不会导致股权分布不符合法规或控制权变动。

三、回购期间相关主体股票交易

回购方案首次披露后至公告前一交易日，控股股东蜀道集团有以下重要动作：

2025年10月23日，蜀道集团通过大宗交易方式减持公司无限售条件流通股173,911,800股，占总股本2.00%，受让方为中邮人寿保险股份有限公司。
2025年1月2日、4月21日，蜀道集团完成以所持部分公司股票为标的的可交换债券发行。期间因债券持有人换股，蜀道集团被动减少持股24,317,034股，占总股本0.28%。

除此之外，公司董事、高级管理人员、控股股东一致行动人、实际控制人及回购提议人在此期间无其他买卖行为。

四、股份结构变动

股份类别	回购前（股）	比例（%）	回购后（股）	比例（%）
有限售条件流通股份	1,994,472,880	22.90	0	0.00
无限售条件流通股份	6,715,566,605	77.10	8,695,590,645	100.00
其中：回购专用证券账户	0	0.00	11,396,900	0.1311
股份总数	8,710,039,485	100.00	8,695,590,645	100.00

五、回购股份后续安排

所有回购股份存放于专用账户，拟用于股权激励或可转债转换。公司将在公告后36个月内完成上述安排，否则未使用部分将依法注销。回购股份期间，不享有表决权、分红、公积金转增、认购新股、配股、质押等权利。

投资者须知与潜在影响

回购行为体现公司对自身价值的信心，并有望提升市场信心，优化股东结构和激励机制，可能对公司股价形成正向影响。
控股股东大宗交易减持及可交换债券换股，可能影响市场对公司控制权和流通股结构的判断，需投资者关注。
回购股份最终用途及后续使用安排，若未按时完成，相关股份将被注销，短期内不会产生表决权等股东权利影响。

结语

四川路桥本次回购行动严格依规，资金来源稳健，回购规模与计划一致，显示出公司治理的规范性和对投资者利益的重视。建议投资者关注后续回购股份的具体用途及控股股东持股变动情况，这些都可能对公司股价产生影响。

免责声明： 本文仅供参考，不构成任何投资建议。投资者应结合自身实际情况审慎决策，股市有风险，投资需谨慎。

English Version
Sichuan Road and Bridge Share Buyback Implementation and Share Change Announcement Explained

Details of Sichuan Road and Bridge Construction Group Co., Ltd. Share Buyback and Share Change Announcement

Key Highlights

Buyback Plan First Announced: April 30, 2025
Buyback Period: April 30, 2025 to April 29, 2026
Expected Buyback Amount: RMB 100 million – 200 million
Buyback Price Cap: RMB 12.13/share (adjusted after dividend from RMB 12.16/share)
Buyback Purpose: Mainly for employee stock ownership plan, equity incentives, and convertible bond conversion
Actual Shares Bought Back: 11,396,900 shares, 0.1311% of total shares
Actual Buyback Amount: RMB 107.45 million, average price RMB 9.43/share

Detailed Breakdown

1. Background and Plan

Sichuan Road and Bridge Construction Group (“SRBG”) held a board meeting on April 29, 2025, approving the use of its own or self-raised funds for a buyback of A-shares via centralized bidding. The main purposes are for equity incentives or convertible bond conversion.
The buyback amount is set between RMB 100 million and 200 million, with a price cap initially at RMB 12.16/share, adjusted to RMB 12.13/share after a semi-annual dividend of RMB 0.032/share. The buyback period is 12 months.

2. Buyback Execution

SRBG commenced the buyback via centralized bidding on September 12, 2025, and completed it by April 23, 2026.
A total of 11,396,900 shares were bought back, equivalent to 0.1311% of the company’s total share capital, at prices between RMB 8.62 and 10.00/share, averaging RMB 9.43/share. The total amount spent was RMB 107.45 million. All shares are held in a dedicated securities account.
The company stressed that the buyback strictly complied with relevant regulations, will not affect normal operations or financial condition, nor will it affect shareholder structure or control.

3. Shareholder and Related Party Transactions During Buyback

Between the first announcement and the day before this disclosure, SRBG’s controlling shareholder, Shudao Investment Group, made significant moves:

On October 23, 2025, Shudao Group sold 173,911,800 unrestricted shares (2.00% of total share capital) via block trade to China Post Life Insurance.
On January 2 and April 21, 2025, Shudao Group completed issuance of exchangeable bonds using company shares as underlying. Due to bondholders’ conversions, Shudao’s holdings passively reduced by 24,317,034 shares (0.28% of total share capital).

No other directors, executives, or related parties traded company shares during this period.

4. Share Structure Change

Share Type	Before Buyback (shares)	Proportion (%)	After Buyback (shares)	Proportion (%)
Restricted Circulating Shares	1,994,472,880	22.90	0	0.00
Unrestricted Circulating Shares	6,715,566,605	77.10	8,695,590,645	100.00
Of which: Buyback Account	0	0.00	11,396,900	0.1311
Total Shares	8,710,039,485	100.00	8,695,590,645	100.00

5. Subsequent Arrangement for Buyback Shares

All repurchased shares are held in a dedicated account and are planned to be used for equity incentives or convertible bond conversion within 36 months after this announcement. Otherwise, unused shares will be canceled according to regulations. While held, these shares do not carry voting, dividend, new share subscription, or pledge rights.

Investor Focus and Potential Impact

The buyback demonstrates the company’s confidence in its value, and may boost market sentiment, optimize shareholder structure, and improve incentive mechanisms—potentially supporting share price.
Controlling shareholder’s block trade and exchangeable bond conversions could affect the market’s perception of control and free float structure; investors should monitor closely.
If the repurchased shares are not used as planned within 36 months, they will be canceled, and these shares do not affect voting or dividend rights in the interim.

Conclusion

SRBG’s buyback was implemented as disclosed, with robust funding and regulatory compliance. Investors are advised to monitor the allocation and ultimate use of repurchased shares and any changes in controlling shareholder holdings, as these may impact the company’s share price.

Disclaimer: This article is for reference only and does not constitute investment advice. Investors should make prudent decisions based on their own circumstances. Stock markets have risks; invest with caution.