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on the evening of september 20,an announcement was issued that the company will use its own funds to repurchase shares for cancellation and reduction of the company's registered capital. the repurchase amount will not be less than rmb 3 billion (inclusive) and not more than rmb 6 billion (inclusive). the upper limit of the repurchase price is rmb 1,795.78 per share (inclusive). the number of repurchased shares will be between 1,670,583 and 3,341,164 shares, and the proportion of repurchased shares to the company's total share capital will be between 0.1330% and 0.2660%.this iskweichow moutaithe first cancellation-style repurchase since its listing 23 years ago,tookweichow moutaione month after the announcement of the three-year cash dividend plan, another major good news was announced.

the announcement also revealed that the controlling shareholder, actual controller, directors, supervisors and senior management have no plans to reduce their holdings in the company's shares in the next three months or the next six months.

"this time, kweichow moutai has put out real money to implement the repurchase and cancellation, which is a proactive response to investors' demands and a powerful measure for market value management. on the one hand, it reflects substantial support and sharing of operating results; on the other hand, it also consolidates the position of controlling shareholder, helps to enhance moutai's value and increase shareholder returns, and promote win-win results for all parties. this is the first time that kweichow moutai has implemented cancellation and repurchase in its 23 years of listing, and it has become another practical measure to create a benchmark for market value management." a relevant person in charge of kweichow moutai said.