Beijing Beimo Gaoke Friction Materials Co., Ltd. (SZSE: 002985) has announced that it has secured a loan commitment letter from China Merchants Bank's Beijing branch, with a maximum credit line of RMB 162 million and a term of up to 36 months, designated exclusively for the company's share repurchase initiative.

This development follows the company's previously approved buyback scheme, under which it plans to repurchase its own shares for an aggregate amount ranging from no less than RMB 120 million to no more than RMB 180 million. The repurchased shares are intended to be used for future equity incentive plans or an employee stock ownership program.

The newly obtained loan facility is specifically earmarked to finance the share buyback operations, providing the company with dedicated funding support to execute its previously disclosed repurchase strategy.