China Bay Communications announced that the board of directors of the company reviewed and passed two proposals: the first is to use no less than 100 million yuan and no more than 200 million yuan of own or self-raised capital to repurchase the company's A shares through centralized bidding. The repurchase shares will be used for employee stock ownership plans or share incentives to protect the company's value and shareholders' rights; the implementation period for repurchases used for employee stock ownership plans or equity incentives is no more than 12 months from the date of review and approval by the board of directors. Second, considering factors such as the company's basic situation and stock price trends, it was decided not to revise the “China-Beijing Bonds” conversion price downward this time, and that within the next 6 months from the date of review and approval by the board of directors, if the downward revision clause for the share conversion price is triggered again, the company will not propose a downward revision plan.

China Bay Communications announced that the board of directors of the company reviewed and passed two proposals: the first is to use no less than 100 million yuan and no more than 200 million yuan of own or self-raised capital to repurchase the company's A shares through centralized bidding. The repurchase shares will be used for employee stock ownership plans or share incentives to protect the company's value and shareholders' rights; the implementation period for repurchases used for employee stock ownership plans or equity incentives is no more than 12 months from the date of review and approval by the board of directors. Second, considering factors such as the company's basic situation and stock price trends, it was decided not to revise the “China-Beijing Bonds” conversion price downward this time, and that within the next 6 months from the date of review and approval by the board of directors, if the downward revision clause for the share conversion price is triggered again, the company will not propose a downward revision plan.