GEM has obtained a stock buyback special loan commitment letter from the Shenzhen branch of Industrial and Commercial Bank of China. The loan amount does not exceed 144 million yuan and does not exceed 90 percent of the total funds for this stock buyback, with a loan term of no more than 36 months. The company previously planned to repurchase shares with an amount ranging from 100 million to 160 million yuan, for use in equity incentives or employee stock ownership plans.
GEM Co LtdGEM receives a buyback loan commitment of up to 144 million yuan from ICBC, supporting its share repurchase plan.