[Tianci Materials: Controlling shareholder proposes to repurchase shares of 50 million to 100 million yuan] On November 9, Tianci Materials (002709.SZ) announced that the company received a proposal from controlling shareholder and chairman Xu Jinfu to use its own funds or self-raised Funds will be used to repurchase the company's A shares through centralized bidding. The total amount of repurchase funds shall not be less than 50 million yuan and not exceed 100 million yuan. The repurchased shares will be used for employee stock ownership plans or equity incentives, reducing registered capital or maintaining the company's value and shareholder rights. The proposer did not buy or sell the company's shares in the six months before the proposal, and has no plans to increase or decrease its holdings during the repurchase period.