In Order To Promote The Healthy And Stable Long-Term Development Of The Company, Seven Wolves Repurchase Shares For The First Time

On the evening of August 3, Fujian seven wolf Industrial Co., Ltd. (hereinafter referred to as "seven wolf") issued an announcement on the progress of share repurchase, and decided to use its own funds to repurchase the RMB common shares (A shares) issued by the company by means of centralized bidding transaction, so as to implement the equity incentive or employee stock ownership plan.

According to the announcement, as of July 31, 2020, seven wolf has repurchased 5.5 million shares, accounting for 0.73% of the total share capital. The highest transaction price is 5.88 yuan / share, the lowest transaction price is 5.63 yuan / share, and the transaction amount is 3.49 million yuan (excluding transaction costs).

On July 23, seven wolf issued a repo report, which showed that it planned to use its own funds to buy back the RMB common shares (A shares) issued by the company through centralized bidding transaction, so as to implement the equity incentive or employee stock ownership plan. If the repurchase price does not exceed RMB 1.56 billion, the total amount of shares to be repurchased is no more than RMB 1.56 billion The number and amount of shares shall be subject to the number and amount of shares actually repurchased at the expiration of the repurchase period.

The purpose of the buyback plan is to promote the healthy and stable long-term development of the company, effectively protect the legitimate rights and interests of all shareholders, and enhance investors' confidence in the company, the company plans to buy back some public shares in combination with the company's operating conditions, financial conditions and future development strategies.