Shanghai Phoenix: plans to repurchase B shares worth 62.06 million yuan to reduce registered capital.

Shanghai Phoenix announced that the company plans to repurchase B shares through centralized bidding trading, with an expected repurchase amount of 62.0649 million yuan, funded by its own funds. The company will repurchase 20 million shares, accounting for 3.88% of the total share capital, which will be used for cancellation and reduction of registered capital. The repurchase period is 6 months after approval by the shareholders' meeting, with the possibility of early termination in specific circumstances. This repurchase will not have a significant adverse impact on the company's daily operations, but there is a risk of not being able to implement it smoothly.