Securities code: 002216 Securities abbreviation: Sanquan Food Announcement Number: 2026-006
Sanquan Food Co., Ltd.
Regarding the top ten shareholders regarding the repurchase of shares
and announcement on the shareholdings of the top ten shareholders without selling restrictions
The company and all members of the board of directors guarantee that the information disclosed is true, accurate and complete, and that there are no false records, misleading statements or major omissions.
Sanquan Food Co., Ltd. (hereinafter referred to as the "Company") held the fifth meeting of the ninth board of directors on March 24, 2026, and reviewed and approved the "Proposal on the Plan to Repurchase the Company's Shares". For details, please refer to the "Announcement on the Plan to Repurchase the Company's Shares" disclosed by the company in the "Securities Times", "Shanghai Securities News" and cninfo.com on March 25, 2026 (Announcement Number: 2026-004).
In accordance with the relevant provisions of laws and regulations such as the "Share Repurchase Rules of Listed Companies", "Shenzhen Stock Exchange Listed Companies Self-Regulatory Guidelines No. 9 – Repurchase of Shares One by One" and other laws and regulations, the names, shareholding amounts and shareholding proportions of the top ten shareholders and the top ten shareholders without sales restrictions on the trading day before the board of directors announced the resolution to repurchase shares (i.e. March 24, 2026) are now announced as follows:
1. Shareholding status of the top ten shareholders
Note: The number of shares held by the above shareholders is the total number of shares held after combining the ordinary account and the margin trading credit account.
2. Shareholding status of the top ten shareholders without selling restrictions
Note: The number of shares held by the above shareholders is the total number of shares held after combining the ordinary account and the margin trading credit account.
3. Documents available for inspection
1. List of shareholders issued by China Securities Depository and Clearing Co., Ltd. Shenzhen Branch.
Announcement is hereby made.
Board of Directors of Sanquan Food Co., Ltd.
March 26, 2026
Securities code: 002216 Securities abbreviation: Sanquan Food Announcement Number: 2026-005
Sanquan Food Co., Ltd.
Share repurchase report
The company and all members of the board of directors guarantee that the information disclosed is true, accurate and complete, and that there are no false records, misleading statements or major omissions.
Important content reminder:
1. Basic situation of this repurchase
Sanquan Food Co., Ltd. (hereinafter referred to as the "Company") plans to use its own funds and self-raised funds to repurchase some of the company's shares through centralized bidding (hereinafter referred to as the "Repurchase"). The brief details are as follows:
(1) Types of repurchased shares: RMB ordinary shares (A shares) issued by the company;
(2) Purpose of repurchase: Use shares for equity incentives and/or employee stock ownership plans;
(3) Repurchase price: no more than RMB 13.50 per share (inclusive);
(4) Repurchase amount: The total amount of repurchase funds shall not be less than RMB 75 million and shall not exceed RMB 150 million;
(5) Repurchase quantity: Calculated based on the fact that the upper limit of the repurchase amount does not exceed RMB 150 million and the upper limit of the repurchase price does not exceed RMB 13.50/share (inclusive), the repurchase quantity is approximately 11.1111 million shares, accounting for 10% of the company’s total share capital. 1.26%; calculated based on the fact that the lower limit of the repurchase amount is not less than RMB 75 million and the upper limit of the repurchase price is not more than RMB 13.50 per share (inclusive), the number of repurchases is approximately 5.5556 million shares, accounting for 0.63% of the company's total share capital;
(6) Source of repurchase funds: own funds and self-raised funds;
(7) Repurchase period: no more than twelve months from the date the board of directors considers and approves the share repurchase plan;
2. This share repurchase plan has been reviewed and approved at the fifth meeting of the ninth board of directors. According to relevant laws, regulations and the "Articles of Association", this share repurchase plan falls within the scope of the board of directors' approval authority and does not need to be submitted to the company's shareholders' meeting for review.
3. The company plans to use the special securities account for share repurchase originally opened at the Shenzhen Branch of China Securities Depository and Clearing Co., Ltd.
4. Related risk warnings
(1) This repurchase plan may face the risk that the company's stock price continues to exceed the repurchase price limit during the repurchase period, which may cause the repurchase plan to be unable to be implemented or only partially implemented.
(2) There is a risk that all repurchased shares may not be granted due to reasons such as equity incentives and/or employee stock ownership plans failing to be reviewed and approved by decision-making bodies such as the company’s shareholders’ meeting, or incentive recipients giving up on subscribing for shares.
(3) During the repurchase process, there is a risk that the plan cannot be implemented due to major events that have a significant impact on the company's stock trading price or the company's board of directors deciding to terminate the repurchase plan.
This repurchase will not have a significant impact on the company's operating activities, financial status and future development, nor will it affect the company's listing status. The company will choose opportunities to repurchase shares based on market conditions during the repurchase period, and will promptly perform information disclosure obligations based on the progress of the share repurchase matter. Investors are advised to pay attention to investment risks.
According to the "Company Law of the People's Republic of China", "Securities Law of the People's Republic of China", "Shenzhen Stock Exchange Stock Listing Rules", "Listed Company Share Repurchase Rules" (hereinafter referred to as "Repurchase Rules"), "Shenzhen Stock Exchange Listed Companies Self-Regulatory Supervision Guidelines No. 9 – 11 In accordance with the relevant provisions of laws, regulations and normative documents such as "Repurchase of Shares" (hereinafter referred to as the "Repurchase Guidelines") and the "Articles of Association of Sanquan Food Co., Ltd." (hereinafter referred to as the "Articles of Association"), the company has prepared a repurchase report on this share repurchase. The specific information is announced as follows:
1. Main contents of the share repurchase plan
(1) Purpose of repurchasing shares
Based on confidence in the company's future development and recognition of the company's long-term value, in order to safeguard the interests of investors, and to establish a sound long-term incentive mechanism, fully mobilize the enthusiasm of the company's middle and senior managers and core backbone personnel, and assist the company's long-term development, the company plans to repurchase some public shares with the company's own funds or self-raised funds through centralized bidding transactions in accordance with relevant regulations for the implementation of equity incentives and/or employee stock ownership plans.
(2) Repurchase of shares meets relevant conditions
The company's repurchase complies with the conditions stipulated in Article 8 of the "Share Repurchase Rules of Listed Companies" and Article 10 of the "Shenzhen Stock Exchange Self-Regulatory Guidelines for Listed Companies No. 9 – Repurchase of Shares One by One":
1. The company’s shares have been listed for six months;
2. The company has no major illegal activities in the past year;
3. After repurchasing shares, the company has the ability to continue operating and pay debts;
4. After repurchasing shares, the company’s equity distribution meets the listing conditions;
5. Other conditions stipulated by the China Securities Regulatory Commission and the stock exchange.
(3) Method and price range for repurchasing shares
1. The company plans to repurchase the company's shares through centralized bidding transactions through the Shenzhen Stock Exchange trading system.
2. The price for repurchasing shares this time is no more than 13.50 yuan/share (inclusive). The upper limit of the repurchase price shall not be higher than 150.00% of the average stock trading price in the 30 trading days before the board of directors passes the repurchase resolution. The specific repurchase price will be determined based on the company's secondary market stock price, the company's financial status and operating conditions.
From the date when the board of directors approves the repurchase plan to the completion of the repurchase, if the company implements capital reserve transfer to share capital, distribution of dividends, bonus shares, allotment of shares and other ex-rights and ex-dividends, from the date of ex-rights and ex-dividends of the stock price, the price limit of the repurchased shares will be adjusted accordingly in accordance with the relevant regulations of the China Securities Regulatory Commission and the Shenzhen Stock Exchange.
(4) The type, purpose, total amount of funds, quantity and proportion of the shares to be repurchased in the company’s total share capital
1. Type of shares repurchased: RMB ordinary shares (A shares) issued by the company;
2. Purpose of repurchased shares: The shares will be used for equity incentives and/or employee stock ownership plans. If the company fails to use up the repurchased shares within 3 years after the announcement of the results of this share repurchase and share changes, the unused repurchased shares will be cancelled. If the state makes adjustments to relevant policies, this repurchase plan will be implemented according to the adjusted policies;
3. The total amount of funds to repurchase shares: no less than RMB 75 million and no more than RMB 150 million. The specific total amount of funds to repurchase shall be based on the total amount of funds actually used for repurchase at the end of the repurchase.
4. The number of shares repurchased and the proportion of the total share capital: Calculated based on the fact that the upper limit of the repurchase amount does not exceed RMB 150 million and the upper limit of the repurchase price does not exceed RMB 13.50/share (inclusive), the number of repurchased shares is approximately 11.1111 million shares, accounting for 11.1111 million shares of the company. 1.26% of the company's total share capital; based on calculations based on the fact that the lower limit of the repurchase amount is not less than RMB 75 million and the upper limit of the repurchase price is no more than RMB 13.50/share (inclusive), the repurchase amount is approximately 5.5556 million shares, accounting for 0.63% of the company's total share capital. The specific number of shares repurchased shall be based on the actual number of shares repurchased at the expiration of the repurchase period.
From the date when the board of directors approves the repurchase plan to the completion of the repurchase, if the company implements capital reserve transfer to share capital, distribution of dividends, bonus shares, allotment of shares and other ex-rights and ex-dividends, starting from the date of ex-rights and ex-dividends of the stock price, the price limit of the repurchased shares will be adjusted accordingly in accordance with the relevant regulations of the China Securities Regulatory Commission and the Shenzhen Stock Exchange. The number of repurchased shares and the proportion of the company's total share capital and shares without selling restrictions will change accordingly.
(5) Sources of funds for repurchasing shares
The source of funds for this share repurchase is the company's own funds and self-raised funds.
(6) Implementation period for share repurchase
1. The repurchase period shall not exceed twelve months from the date the board of directors considers and approves the share repurchase plan. During the implementation of the repurchase plan, if the company's stock is suspended for more than ten consecutive trading days due to the planning of major events, the repurchase period may be extended, and the extension shall not exceed the maximum period stipulated by the China Securities Regulatory Commission and the Shenzhen Stock Exchange.
2. If the following conditions are met, the repurchase period will expire early:
(1) If the amount of repurchase funds used exceeds the minimum limit during the repurchase period, the repurchase plan can be completed, or if the repurchase fund usage reaches the maximum limit during the repurchase period, the repurchase plan will be implemented immediately and the repurchase period will expire early from that date;
(2) If the company's board of directors decides to terminate this repurchase plan, the repurchase period will expire early from the date of the board of directors' resolution to terminate this repurchase plan.
3. The company shall not repurchase shares during the following periods:
(1) From the date when a major event that may have a significant impact on the trading price of the company's securities and its derivatives occurs or during the decision-making process to the date of disclosure in accordance with the law;
(2) Other circumstances specified by the China Securities Regulatory Commission and Shenzhen Stock Exchange.
4. The company’s declaration for this share repurchase transaction must meet the following requirements:
(1) The declared price shall not be the price that limits the trading increase of the company’s stock on that day;
(2) Share repurchases shall not be entrusted during the stock exchange’s opening call auction, closing call auction and trading days when there is no limit on the price increase or decrease of the stock price;
(3) Other requirements stipulated by the China Securities Regulatory Commission and Shenzhen Stock Exchange.
(7) Estimated changes in the company’s capital structure after the repurchase
1. Calculated based on the lower limit of the total repurchase funds of 75 million yuan and the repurchase price of 13.5 yuan per share, the number of shares repurchased is expected to be approximately 5,555,556 shares, accounting for approximately 0.63% of the company's current total share capital. Assuming that all repurchased shares are locked, the expected changes in the company's share capital structure are as follows:
2. Calculated based on the total repurchase fund limit of 150 million yuan and the repurchase price of 13.5 yuan/share, the number of shares repurchased is expected to be approximately 11,111,111 shares, accounting for approximately 1.26% of the company's current total share capital. Assuming that all repurchased shares are locked, the expected changes in the company's share capital structure are as follows:
Note: The above changes are the results of calculations, and the influence of other factors has not been taken into account. The specific number of shares repurchased and its impact on the company's equity structure shall be based on the actual number of shares repurchased when the repurchase is completed.
(8) Management’s analysis of the impact of this share repurchase on the company’s operations, finance, research and development, debt performance capabilities, future development, and maintenance of listing status, and the commitment of all directors that this share repurchase will not damage the listed company’s debt performance ability and sustainable operating capabilities.
As of September 30, 2025 (unaudited), the company's total assets were 7,568,510,450.33 yuan, and the owner's equity attributable to shareholders of the listed company was 4,527,384,526.24 yuan. Assuming that the upper limit of the total repurchase funds of RMB 150 million is fully used, the proportions of the company's total assets and the owner's equity attributable to shareholders of the listed company will be 1.98% and 3.31% respectively, which are relatively low.
Based on the company's current operations, finance, research and development, debt performance capabilities and future development, the company believes that the share repurchase amount of no less than RMB 75 million and no more than RMB 150 million will not have a significant impact on the company's operations, finance, research and development, debt performance capabilities and future development. The implementation of the share repurchase plan will not lead to a change in the company's control, will not change the company's status as a listed company, and will not cause the company's equity distribution to not meet the listing conditions. Moreover, this repurchase of shares will be used for equity incentives and/or employee stock ownership plans, which will help establish and improve the benefit-sharing mechanism, improve the cohesion of the company's employees, promote the company's sustainable development, effectively boost market confidence, and safeguard the interests of investors, especially small and medium-sized investors.
All directors of the company promise to be honest, trustworthy, diligent and responsible in this share repurchase, and to safeguard the company's interests and the legitimate rights and interests of shareholders and creditors; this share repurchase will not damage the company's ability to fulfill its debts and continue to operate.
(9) The purchase and sale of the company’s shares by the listed company’s directors, senior managers, controlling shareholders, actual controllers and persons acting in concert within six months before the board of directors makes a resolution to repurchase shares, whether there is any insider trading and market manipulation behavior alone or jointly with others, and plans to increase or decrease shareholdings during the repurchase period; the shareholding reduction plans of the listed company’s directors, senior managers, controlling shareholders, actual controllers, and shareholders holding more than 5% of the shares in the next three months and the next six months.
After the company's internal self-examination, the company's directors, senior managers, the company's controlling shareholders, actual controllers and persons acting in concert did not buy or sell the company's shares in the six months before the board of directors made the resolution to repurchase shares, and did not engage in insider trading or market manipulation alone or jointly with others.
As of the disclosure date of this announcement, the company's directors, senior managers, controlling shareholders, actual controllers and persons acting in concert have no clear plans to increase or decrease their holdings during the repurchase period. Listed company directors, senior managers, controlling shareholders, actual controllers, shareholders holding more than 5% of shares and persons acting in concert have no clear plans to reduce their holdings in the next three months or six months. If the above-mentioned persons plan to implement a share increase or decrease plan in the future, the company will promptly perform its information disclosure obligations in accordance with relevant regulations.
(10) Relevant arrangements for cancellation or transfer in accordance with the law after repurchasing shares, as well as arrangements to prevent infringement of the interests of creditors
The shares repurchased by the company will be used for the later implementation of equity incentives and/or employee stock ownership plans. If the above purposes cannot be implemented within three years after the completion of the share repurchase, or if all the repurchased shares are not used for the above purposes, the unused portion will be canceled in accordance with the law.
If the cancellation of shares occurs subsequently, the company will, in accordance with relevant laws and regulations, fulfill legal procedures and information disclosure obligations such as notifying creditors on the reduction of the company's registered capital after the shareholders' meeting makes a resolution to repurchase the shares and fully protect the legitimate rights and interests of creditors.
(11) Specific authorization arrangements for handling this share repurchase matter
This share repurchase plan has been reviewed and approved at the fifth meeting of the company's ninth board of directors held on March 24, 2026. The shares repurchased by the company will be used for equity incentives and/or employee stock ownership plans. According to the relevant provisions of the "Repurchase Guidelines" and the "Articles of Association", this share repurchase matter can be passed by a resolution of the board of directors meeting attended by more than two-thirds of the directors, and does not need to be submitted to the shareholders' meeting for review.
In order to ensure the smooth implementation of this share repurchase, the company's board of directors authorizes the management to handle matters related to this share repurchase within the scope of laws and regulations and in accordance with the principle of safeguarding the interests of the company and shareholders to the maximum extent. The content and scope of authorization include but are not limited to:
1. Within the scope permitted by laws and regulations, and based on the company and market conditions, formulate a specific plan for the repurchase of shares;
2. When the regulatory authorities change the relevant conditions for the repurchase of shares or the market conditions change, in addition to matters that must be reconsidered by the board of directors as stipulated in relevant laws, regulations and the Articles of Association, the specific plan for the repurchase of shares and other related matters will be adjusted accordingly in accordance with the relevant regulations;
3. Have full authority to handle the specific implementation matters of this repurchase: including but not limited to the establishment of special securities accounts for repurchase and other securities accounts; choosing the opportunity to repurchase shares according to the actual situation, including the time, price and quantity of the repurchase;
4. Based on the actual situation of share repurchase, modify the Articles of Association and other information and document terms that may involve changes, and handle relevant filing work;
5. After the implementation of the share repurchase is completed, it will be used for equity incentives and/or employee stock ownership plans, and will be transferred within three years after the announcement of the results of the share repurchase and share changes; if the company fails to complete the transfer within the specified period, it will perform the procedures for reducing the registered capital in accordance with the law, and the untransferred shares will be cancelled, and the company's articles of association and registered capital changes will be modified;
6. Handle other matters not listed above but necessary for this share repurchase;
7. This authorization shall commence from the date when the company's board of directors considers and approves the share repurchase plan and ends on the date when the above authorization matters are completed.
2. Risk warning of repurchase plan
1. This repurchase plan may face the risk that the company's stock price continues to exceed the repurchase price limit during the repurchase period, which may lead to the risk that this repurchase plan cannot be implemented or can only be partially implemented.
2. There is a risk that all repurchased shares may not be granted due to reasons such as equity incentives and/or employee stock ownership plans failing to be reviewed and approved by decision-making bodies such as the company's shareholders' meeting, or incentive recipients giving up on subscribing for shares.
3. During the repurchase process, there is a risk that the plan cannot be implemented due to the occurrence of major events that have a significant impact on the company's stock trading price or the company's board of directors deciding to terminate the repurchase plan.
This repurchase will not have a significant impact on the company's operating activities, financial status and future development, nor will it affect the company's listing status. The company will choose opportunities to repurchase shares based on market conditions during the repurchase period, and will promptly perform information disclosure obligations based on the progress of the share repurchase matter. Investors are advised to pay attention to investment risks.
3. Review procedures and information disclosure for this share repurchase
1. This share repurchase plan has been reviewed and approved at the fifth meeting of the company's ninth board of directors held on March 24, 2026. According to the relevant provisions of the "Repurchase Guidelines" and the "Articles of Association", this share repurchase matter can be passed by a resolution of the board of directors meeting attended by more than two-thirds of the directors, and does not need to be submitted to the shareholders' meeting for review. For details, please refer to the "Announcement on Resolutions of the Fifth Meeting of the Ninth Board of Directors" (Announcement No.: 2026-003) and the "Announcement on the Plan to Repurchase the Company's Shares" (Announcement No.: 2026-004) disclosed on cninfo.com on March 25, 2026.
2. On the date of this announcement, the company disclosed the names, shareholding quantity and shareholding ratio of the top ten shareholders and the top ten shareholders without selling restrictions who were registered on the trading day before the board of directors announced the resolution to repurchase shares. For details, please refer to the "Announcement on the Shareholdings of the Top Ten Shareholders and the Top Ten Shareholdings without Trading Unconditional Conditions" disclosed by the company on the same day in the Securities Times, Shanghai Securities News and cninfo.com (announcement number: 2026-006).
4. Opening of special account for share repurchase
According to relevant regulations, the company can use the special securities account for share repurchase originally opened at the Shenzhen Branch of China Securities Depository and Clearing Co., Ltd. This account is only used to repurchase the company's shares.
5. Information disclosure arrangements
In accordance with the provisions of relevant laws, regulations and normative documents, the company will promptly perform its information disclosure obligations during the implementation of repurchases and announce the progress of repurchases in each periodic report:
1. The company will disclose the fact on the trading day following the first repurchase of shares;
2. For every 1% increase in the proportion of shares repurchased by the company to the total share capital of the listed company, it will be disclosed within three trading days from the date of the fact;
3. Disclose the repurchase progress as of the end of the previous month within the first three trading days of each month;
4. If the company has not implemented the repurchase more than half of the repurchase implementation period stipulated in the share repurchase plan, the board of directors will announce the reasons for the failure to implement the repurchase and the subsequent repurchase arrangements;
5. If the repurchase period expires or the share repurchase has been completed, the company will stop the repurchase and disclose the repurchase results and share change announcement within two trading days.
6. Documents available for inspection
Resolution of the fifth meeting of the company's ninth board of directors.
Announcement is hereby made.
Board of Directors of Sanquan Food Co., Ltd.
March 26, 2026
