四川路桥建设集团股份有限公司：股份回购进展公告详解

要点概览

• 回购方案首次披露：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：10,000万元至20,000万元
• 回购用途：
  • 用于员工持股计划或股权激励
  • 用于公司可转债的转换
• 累计已回购股份：11,396,900股，占总股本0.1311%
• 累计已回购金额：107,449,527.42元
• 实际回购价格区间：8.62元/股至10.00元/股
• 最新回购进展：2026年3月新增回购150,000股，金额1,452,397元

详细内容解析

四川路桥建设集团股份有限公司于2025年4月29日召开董事会，审议并通过了A股股份回购议案。公司计划动用自有或自筹资金，以集中竞价方式回购部分已发行A股股份，主要用于员工持股计划、股权激励以及可转债转换，显示公司对股东回报和员工激励的高度重视。

此次回购金额下限为10,000万元，上限为20,000万元，回购价格上限原定为12.54元/股。由于公司分别于2025年7月11日和10月23日实施了年度和半年度现金分红，回购价格上限自2025年10月23日起调整为12.13元/股。公司严格遵守相关法律法规和回购规则，确保回购过程的合规性和信息披露的及时性。

截至2026年3月31日，公司通过集中竞价方式累计回购11,396,900股，占公司总股本的0.1311%，最高成交价为10.00元/股，最低为8.62元/股，累计支付金额为1.07亿元人民币。仅2026年3月，公司回购股份150,000股，支付金额1,452,397元，成交价区间为9.66元/股至9.70元/股。

对股东的重要事项及潜在价格影响分析

• 回购资金规模大，彰显公司信心：10,000万元至20,000万元的回购资金，显示公司对未来业绩和股价有信心。
• 回购价格上限调整：受分红影响，回购价上限由12.54元/股调整为12.13元/股，投资者需关注回购价格变化对市场和股价的影响。
• 用于股权激励与可转债转换：回购股份将用于员工持股计划、股权激励和可转债转换，有助于提升公司治理与员工积极性，也有助于优化资本结构。
• 回购进展透明、合规：公司将持续按月披露回购进展，确保信息透明。
• 回购比例尚小：目前累计回购股份仅占总股本0.1311%，对公司整体股本结构影响有限，但持续回购和大额资金投入有望对股价形成支撑。
• 投资者需关注市场风险：公司提醒投资者关注投资风险，回购行为不代表公司股价必然上涨。

总结

四川路桥本次股份回购方案资金规模大，回购股份将用于员工持股计划、股权激励和可转债转换，显示了管理层对公司发展和市场价值的信心。回购进展透明，合规性强，有望对公司股价形成一定支撑。投资者需持续关注回购进展及市场环境变化，理性投资。

免责声明：本文内容仅供投资者参考，不构成任何投资建议。股市有风险，投资需谨慎。投资者应根据自身情况做出独立判断。

English Version

Sichuan Road & Bridge Construction Co., Ltd.: Share Repurchase Progress Detailed

Key Highlights

• First Announcement of Repurchase Plan: April 30, 2025
• Repurchase Period: April 30, 2025 to April 29, 2026
• Expected Repurchase Amount: RMB 100 million to 200 million
• Purpose of Repurchase:
  • Employee Stock Ownership Plan (ESOP) or equity incentives
  • Conversion of company convertible bonds
• Total Shares Repurchased: 11,396,900 shares, accounting for 0.1311% of total share capital
• Total Amount Paid: RMB 107,449,527.42
• Actual Repurchase Price Range: RMB 8.62 to 10.00 per share
• Latest Progress: 150,000 shares repurchased in March 2026, amounting to RMB 1,452,397

Detailed Analysis

On April 29, 2025, Sichuan Road & Bridge’s board passed a resolution to repurchase A-shares using its own or self-raised funds via centralized bidding, mainly for ESOP, equity incentives, and convertible bond conversion. This move highlights the company’s commitment to shareholder returns and employee motivation.

The repurchase amount is set at no less than RMB 100 million and not more than RMB 200 million, with the price cap originally at RMB 12.54 per share. Due to cash dividends issued on July 11 and October 23, 2025, the repurchase price cap was adjusted to RMB 12.13 per share from October 23, 2025. The company follows all relevant laws and regulations, ensuring transparency and compliance.

By March 31, 2026, the company had repurchased 11,396,900 shares (0.1311% of total shares) at prices between RMB 8.62 and 10.00 per share, totaling RMB 107.45 million. In March 2026 alone, 150,000 shares were bought for RMB 1,452,397, at prices between RMB 9.66 and 9.70 per share.

Important Issues for Shareholders and Potential Price Impact

• Large Repurchase Fund: The sizeable RMB 100–200 million repurchase demonstrates management’s confidence in future performance and share value.
• Repurchase Price Cap Adjustment: Dividend payouts have led to a price cap adjustment, which investors should monitor as it may affect market sentiment and share valuation.
• Uses for ESOP and Convertible Bonds: Repurchased shares will serve as employee incentives and for convertible bond conversion, enhancing governance and capital structure.
• Transparent and Compliant Process: The company discloses progress monthly, ensuring information transparency.
• Small Repurchase Proportion So Far: To date, only 0.1311% of shares have been repurchased, so direct impact on share structure is limited, but continued repurchases may support the share price.
• Investment Risk Warning: The company reminds investors to be aware of risks, as repurchases do not guarantee a rising share price.

Summary

Sichuan Road & Bridge’s large-scale share repurchase plan, with shares earmarked for ESOP, equity incentives, and convertible bond conversion, demonstrates management’s confidence in future prospects. Transparent and compliant execution may support the share price. Investors should monitor repurchase progress and market trends, and invest prudently.

Disclaimer: This article is for reference only and does not constitute investment advice. The stock market carries risks—invest carefully and make independent judgments.

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