S.F. Holding Co., Ltd. (6936) introduced its 2025 First A-Share Repurchase Plan earlier this year to repurchase between RMB500 million and RMB1 billion of A Shares, with a maximum price of RMB60 per A Share. As of September 30, 2025, 7,432,648 A Shares were bought back under centralized bidding, equivalent to about 0.15% of the total issued share capital, for approximately RMB299.99 million in total consideration. The average repurchase price was RMB40.36 per share.

On October 30, 2025, the board approved adjustments to the plan, citing continued confidence in long-term prospects and intrinsic value. The total repurchase amount has been revised to a range of RMB1.5 billion to RMB3 billion. In addition, the repurchase period is extended to 12 months from the date of the adjusted plan’s approval, running from April 28, 2025 to October 29, 2026. Other terms remain unchanged.

The company emphasized that the revised plan complies with relevant regulations and will not adversely impact its operations or financial standing. It noted potential uncertainties, including share-price fluctuations and the timing of any A Share employee stock ownership plan or equity incentive scheme. Further updates will be disclosed as the buyback progresses.