Biwin Storage Plans RMB 200-250 Million Buyback for Capital Reduction at Up to RMB 468.24 per Share
Biwin Storage announced a share buyback of RMB 200-250 million for capital reduction, with a price cap of RMB 468.24 per share. The proposal, initiated by Chairman Sun Chengsi, was approved by the board on August 10 and will be voted on at an extraordinary shareholder meeting on August 27. The buyback, funded by internal resources or self-raised funds including a RMB 225 million loan commitment from ICBC Shenzhen, represents up to 1.02% of total assets, 2.94% of net assets, and 6.59% of cash as of March 31. The company cited AI-driven demand and a strong storage cycle for its performance.
Biwin Storage announced on the evening of August 11 that it plans to repurchase company shares worth RMB 200 million to RMB 250 million to reduce registered capital, with a repurchase price not exceeding RMB 468.24 per share. The company's controlling shareholder, actual controller, and chairman, Sun Chengsi, proposed the buyback to the board on July 22. The board reviewed and approved the 'Plan for Repurchasing Shares via Centralized Bidding Transactions in 2026' on August 10, and an extraordinary shareholders' meeting will be held on August 27 to consider the plan.
As of March 31, the company's total assets stood at RMB 24.48 billion, net assets attributable to shareholders of the listed company at RMB 8.512 billion, and monetary funds at RMB 3.795 billion. Based on the upper limit of RMB 250 million for the buyback, these amounts represent 1.02%, 2.94%, and 6.59% of the respective figures. The company's overall debt-to-asset ratio was 64.96%, with total current liabilities of RMB 10.29 billion and non-current liabilities of RMB 5.61 billion. The buyback will be funded by self-owned funds or self-raised funds, including a special loan for share repurchases. The company has obtained a loan commitment letter from ICBC Shenzhen Branch, which agreed to provide a special share repurchase loan of up to RMB 225 million.
The company's performance growth is mainly driven by the surge in AI computing power and the storage industry entering a high-prosperity cycle. The company has continued to optimize its product and customer structure and has increased investment in areas such as chip design, solutions, advanced packaging and testing, and test equipment.