Sichuan Tianwei Food Co., Ltd. Announcement on the Progress of Share Repurchase

2026-04-07 19:45:10

Stock Code: 603317 Stock Short Name: Tianwei Food Announcement No.: 2026-037

Sichuan Tianwei Food Group Co., Ltd.

Progress Announcement on Share Buyback

This Company’s board of directors and all directors warrant that the contents of this announcement contain no false records, misleading statements or material omissions, and assume legal responsibility for the truthfulness, accuracy, and completeness of the contents of this announcement.

Key Points:

■

I. Basic Information on the Share Buyback

Sichuan Tianwei Food Group Co., Ltd. (hereinafter referred to as the “Company”) convened the 14th meeting of the Sixth Session of the Board of Directors on March 12, 2026, at which the “Proposal on a Share Buyback Plan via Centralized Competitive Trading” was considered and approved. The Company agreed to use its own funds to repurchase the Company’s shares via centralized competitive trading, not less than 1M shares and not more than 2M shares, with an estimated buyback amount of RMB 16M to RMB 32M. The buyback period is from March 12, 2026 to March 11, 2027. The repurchased shares will be used for the subsequent implementation of an employee share ownership plan or an equity incentive plan. For the specific details, please refer to the Company’s announcement on the Shanghai Stock Exchange website (www.sse.com.cn) and in the newspapers “China Securities Journal,” “Shanghai Securities News,” “Securities Times,” and “Securities Daily,” titled “Announcement on a Share Buyback Plan via Centralized Competitive Trading” (Announcement No.: 2026-030).

II. Progress of the Share Buyback

Pursuant to relevant provisions such as the “Rules for Repurchase of Shares by Listed Companies” and the “Self-Regulatory Regulatory Guidance No. 7 on Share Repurchases by Listed Companies of the Shanghai Stock Exchange,” during the repurchase period the Company shall disclose the progress of the buyback as of the end of the previous month within the first three trading days of each month. The progress of the Company’s share buyback is hereby announced as follows:

In March 2026, the Company repurchased 1,328,100 shares via centralized competitive trading. The repurchased shares account for approximately 0.1247% of the Company’s total share capital. The highest transaction price was RMB 12.67 per share, the lowest transaction price was RMB 11.81 per share, and the total transaction amount was RMB 16,096,883 (excluding transaction fees).

As of March 31, 2026, the Company had cumulatively repurchased 1,328,100 shares, accounting for 0.1247% of the Company’s current total share capital. The highest and lowest transaction prices were RMB 12.67 per share and RMB 11.81 per share, respectively, and the total amount paid was RMB 16,096,883 (excluding transaction fees).

This share repurchase complies with the relevant laws and regulations and meets the requirements of the share repurchase plan.

III. Other Matters

The Company will strictly comply with the relevant provisions such as the “Rules for Repurchase of Shares by Listed Companies” and the “Self-Regulatory Regulatory Guidance No. 7 on Share Repurchases by Listed Companies of the Shanghai Stock Exchange,” make repurchase decisions and carry them out in a timely manner based on market conditions during the repurchase period. At the same time, the Company will promptly fulfill its information disclosure obligations according to the progress of the repurchase of shares. Investors are kindly requested to pay attention to investment risks.

This announcement is hereby issued.

Board of Directors of Sichuan Tianwei Food Group Co., Ltd.

April 2, 2026

Stock Code: 603317 Stock Short Name: Tianwei Food Announcement No.: 2026-038

Sichuan Tianwei Food Group Co., Ltd.

Announcement on the Expiration and Redemption of Cash Management for Part of the Temporarily Idle Raised Funds and the Continued Cash Management Thereafter

Key Points:

● Type of investment in this round: Structured deposits

● Investment amount in this round: RMB 1M

● Procedures for approval completed

On February 27, 2026, the Company convened the 12th meeting of the Sixth Session of the Board of Directors, and on March 17, 2026 it convened the 2026 Second Extraordinary General Meeting of Shareholders. The meeting considered and approved the “Proposal on Using Temporarily Idle Raised Funds for Cash Management,” agreeing to use up to RMB 1.2 billion (inclusive) of temporarily idle raised funds for cash management. This quota may be used on a rolling basis within 12 months from the date on which the 2026 Second Extraordinary General Meeting of Shareholders approves it. For details, please refer to the Company’s “Resolution of the 12th Meeting of the Sixth Session of the Board of Directors” (Announcement No.: 2026-007) and the “Announcement on Using Temporarily Idle Self-owned Funds and Raised Funds for Cash Management” (Announcement No.: 2026-008), both published on February 28, 2026 in “China Securities Journal,” “Shanghai Securities News,” “Securities Times,” “Securities Daily,” and on the Shanghai Stock Exchange website (www.sse.com.cn), as well as the “Resolution of the 2026 Second Extraordinary General Meeting of Shareholders” published on March 18, 2026 (Announcement No.: 2026-032).

● Special risk warning

The Company and its subsidiaries’ investment and financial management products in this round are low-risk investment products; however, the financial market is significantly affected by macroeconomic conditions, fiscal matters, and monetary policies, and it is not excluded that this investment may be affected by market fluctuations.

I. Redemption upon expiration of the previous cash management of raised funds

On March 18, 2026, the Company handled a seven-day notice deposit business with the Shuangliu Sub-branch of Bank of China Co., Ltd. for RMB 2M, and on March 31, 2026 it redeemed the principal of RMB 16M and obtained interest income of RMB 117.4k. The specific details are as follows:

■

II. Overview of Investment

(I) Investment Purpose

To improve the efficiency and returns of the use of raised funds, and to reasonably utilize temporarily idle raised funds. While ensuring that the use of raised funds will not be affected and that raised funds will be used normally, the Company seeks better investment returns for the Company and its shareholders.

(II) Investment Amount

The investment amount in this round is RMB 32M.

(III) Sources of Funds

The source of funds for this cash management is temporarily idle raised funds from the Company’s non-public issuance of shares.
Upon approval by the “Decision on Approving the Non-public Issuance of Shares by Sichuan Tianwei Food Group Co., Ltd.” issued by the China Securities Regulatory Commission (CSRC) (Approval No.: CSRC Permission [2020] 2135), the Company was approved to issue non-public shares of no more than 100M shares. In this non-public issuance, the Company actually issued 28,596,491 shares. The total amount of raised funds was RMB 1,629,999,987.00, and after deducting issuance expenses of RMB 8,309,996.69 (excluding value-added tax), the actual net proceeds from the raised funds were RMB 1,621,689,990.31. The above raised funds were received on November 13, 2020. They were verified by Ernst & Young Zhongqin Certified Public Accountants (Special General Partnership) and an验资 report titled “XYZH/2020CDA40010” was issued.
Specific use of the raised funds:

■

Note: “Cumulative investment progress” refers to data as of December 31, 2025.

(IV) Investment Methods

The Company and its subsidiaries use temporarily idle raised funds to purchase security-type brokerage income certificates, structured deposits, large-denomination certificates of deposit, government bond reverse repos, and other principal-protected products with high safety and good liquidity. The investment products must meet the following conditions: (1) High safety, meeting principal protection requirements, and the product issuing entity can provide a principal protection commitment; (2) Good liquidity, and will not affect the Company’s normal daily production and business operations. The Company uses temporarily idle raised funds for cash management without affecting the construction of raised funds projects and the normal use of raised funds, and there is no conduct that effectively changes the intended use of raised funds. Through conducting relatively low-risk financial management, the Company and its subsidiaries can improve the efficiency of capital use, increase returns, further enhance the Company’s overall performance, and seek more investment returns for the Company’s shareholders.

■

(V) Cash management status of the Company’s raised funds in the most recent 12 months up to the current time

■

Note: The data shown is the aggregated cash management amount for the most recent 12 months that has been cumulatively invested and actually redeemed, resulting in actual returns.

III. Approval Procedures

IV. Analysis of Investment Risks and Risk Control Measures

The financial management products purchased in this round are bank wealth management products. The principal safety of the funds used by the Company and its subsidiaries for cash management is ensured, and risks are controllable. The main risks of these wealth management businesses are market risk and policy risk.

Preventive measures: 1. The contract must clearly stipulate that the Company’s wealth management principal will be guaranteed safe; 2. The Company selects financial institutions with large asset scale and high reputation to carry out wealth management activities; 3. The Company will regularly pay attention to the relevant status of cash management funds; if it is found that conditions may generate risks, it will take corresponding measures in a timely manner to control investment risks; 4. The Company has established strict internal control measures regarding risks related to cash management.

V. Impact of the Investment on the Company

Unit: RMB

■

Pursuant to the relevant accounting standards for new financial instruments, the principal-protected, floating return wealth management products purchased by the Company are presented as financial assets held for trading, and returns upon maturity are presented as investment income. The Company has no situation in which it purchases large wealth management products while bearing substantial liabilities. The payment amount for this cash management by the Company is RMB 500M, accounting for 141.38% of the Company’s cash and cash equivalents at the end of the most recent period in its consolidated financial statements (i.e., December 31, 2025).

Under the premise of ensuring the funds required for the raised funds investment projects and daily operations, and ensuring the safety of raised funds, the Company and its subsidiaries conduct such activities and will not affect the normal turnover of funds, will not affect the normal operation of the raised funds projects, and will not affect the normal development of the main business. Through appropriate low-risk financial management, it is beneficial to improve the efficiency of capital use, increase returns, further enhance the Company’s overall performance, and seek more investment returns for the Company’s shareholders.

VI. Opinions of the Sponsoring Institution

The matter of Tianwei Food using temporarily idle raised funds for cash management in this round has been approved by the Company’s board of directors and the general meeting of shareholders, and it complies with relevant provisions such as the “Measures for Administration of Sponsoring Business for Securities Issuance and Listing,” the “Rules for the Supervision of Raised Funds of Listed Companies,” the “Listing Rules for Stocks of the Shanghai Stock Exchange,” the “Self-Regulatory Regulatory Guidance for Listed Companies of the Shanghai Stock Exchange No. 1—Standardized Operation,” and other relevant requirements. The above matter does not affect the construction of raised funds investment projects or normal production and business operations, complies with the interests of the Company and all shareholders, and there is no situation of effectively changing the intended use of raised funds, and there is no harm to the interests of the Company and all shareholders, especially the interests of minority shareholders.

In summary, the sponsoring institution agrees to Tianwei Food’s use of idle raised funds for cash management in this round.

This announcement is hereby issued.

Board of Directors of Sichuan Tianwei Food Group Co., Ltd.

April 2, 2026

Massive information, precise interpretation—available on the Sina Finance APP

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.