Guangshen Railway Company Limited announced a board-approved proposal to repurchase up to RMB100.00 million of its A shares through centralized bidding on the Shanghai Stock Exchange. The plan, disclosed on 29 April 2026, now awaits special-resolution approval at the forthcoming general meeting and separate A- and H-share class meetings.

Key terms • Size and price cap: The buyback is capped at RMB4.62 per share—no higher than 150% of the 30-day average A-share trading price—allowing for the purchase of approximately 21.65 million shares, or 0.31% of total issued capital. • Funding: Entirely financed by internal resources. • Purpose: All repurchased shares will be cancelled, leading to a corresponding reduction in registered capital. • Timeline: Execution period may extend up to 12 months from shareholder approval, ending earlier if full funds are deployed or if the plan is modified or terminated due to material changes. • Method: Centralized bidding via the Shanghai Stock Exchange trading system.

Capital structure impact Pro-forma, post-repurchase A-share count would fall to 5.63 billion from 5.65 billion, while H-shares remain unchanged at 1.43 billion. Total share capital would drop to 7.06 billion shares.

Financial context (31 Dec 2025, audited) • Total assets: RMB36.94 billion • Net assets attributable to shareholders: RMB28.29 billion • Cash balance: RMB4.15 billion

The RMB100.00 million outlay equates to 0.27% of total assets, 0.35% of net assets and 2.41% of the cash position, with management stating the transaction will not materially affect operations, R&D, profitability, debt-servicing capacity or listing status.

Governance and shareholder stance Directors, senior management, the controlling shareholder and shareholders holding more than 5% have not traded the company’s shares within the past six months and report no plans to reduce holdings in the next three or six months.

Risk disclosures Implementation hinges on shareholder approval, creditor consent, share-price conditions and regulatory requirements. Persistent trading above the price cap, creditor objections or significant operational changes could render the buyback partially or wholly unexecuted.

Guangshen Railway will disclose progress in accordance with exchange regulations throughout the repurchase window, and advises investors to monitor related announcements for updates.