Bluebird Fire Proposes to Spend No More Than 704 Million Yuan to Repurchase Shares for Employee Stock Ownership Plan or Equity Incentives

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Blue Bird Fire Protection Co., Ltd. (hereinafter referred to as “Blue Bird Fire Protection”) announced on March 13, 2026, that the company’s 15th meeting of the fifth board of directors approved a share repurchase plan. According to the announcement, the company plans to use its own funds and self-raised funds to repurchase A-shares through centralized bidding, for employee stock ownership plans or equity incentives, with a maximum repurchase amount of 704 million yuan.

Core Content of the Repurchase Plan

The announcement shows that the shares to be repurchased are the company’s issued RMB ordinary shares (A-shares), with a repurchase price not exceeding 16.00 yuan per share. This price limit does not exceed 150% of the average trading price of the company’s stock during the thirty trading days prior to the approval of the repurchase plan by the board. Regarding the number of shares to be repurchased, it is planned to be no less than 2.5% of the total share capital (i.e., 21,995,222 shares) and no more than 5% (i.e., 43,990,443 shares). The specific number of shares and total funds will depend on actual implementation.

The implementation period is within 12 months from the date the board approves this repurchase plan. If during the repurchase period the maximum repurchase amount is reached, the board decides to terminate the plan, or the minimum amount is reached, the repurchase period will end early.

Funding Sources and Financial Impact

The funds for this repurchase will come from self-raised funds and other sources. The company has obtained a “Loan Commitment Letter” from Bank of China, Zhangjiakou Branch, for a dedicated repurchase loan of no more than 1.2 billion yuan, with a term of no more than 3 years.

As of September 30, 2025 (unaudited), Blue Bird Fire Protection’s total assets were 9.728 billion yuan, shareholders’ equity was 6.299 billion yuan, and current assets amounted to 7.056 billion yuan. Based on the maximum repurchase amount of 704 million yuan, the proportion of this funds to the company’s total assets, net assets, and current assets is 7.24%, 11.17%, and 9.97%, respectively. The company states that this repurchase will not have a significant impact on operations, finances, R&D, or debt repayment capacity, nor will it cause changes in control or violate listing conditions regarding shareholding distribution.

Predicted Changes in Share Capital Structure

If calculated based on the maximum repurchase of 43,990,443 shares, and all used for employee stock ownership plans or equity incentives with lock-in, the company’s share capital structure will change as follows:

If calculated based on the minimum repurchase of 21,995,222 shares, the share structure will change as follows:

Shareholder Increase/Decrease Plans and Risk Warning

The announcement discloses that the company’s directors, senior management, and controlling shareholders have no specific plans for increase or decrease during the repurchase period; the above entities and shareholders holding more than 5% of shares also have no clear plans to reduce holdings in the next three or six months. If such plans are implemented in the future, the company will fulfill its disclosure obligations as required.

Additionally, the company warns of several risks, including the possibility that stock prices may stay above the repurchase price limit, leading to the plan’s failure; changes or termination due to operational or external environment shifts; unapproved employee stock plans or incentives preventing the issuance of shares; and the risk of unutilized shares being canceled.

This repurchase plan has been approved unanimously by the board of directors and does not require shareholder approval. The management will execute the repurchase within the authorized scope based on market conditions.

Disclaimer: The market involves risks; investments should be cautious. This article is automatically published by an AI model based on third-party databases and does not represent Sina Finance’s views. All information herein is for reference only and does not constitute personal investment advice. Please refer to official announcements for accuracy. For questions, contact biz@staff.sina.com.cn.

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