Guangdong Mingzhu announced that the company plans to use its own funds or self-raised funds to repurchase shares through centralized competitive trading. The buyback amount will be no less than 100 million yuan and no more than 150 million yuan, with a repurchase price not exceeding 10 yuan per share. The buyback period will be no more than 12 months from the date of approval by the board of directors. The repurchased shares will be used for employee stock ownership plans or equity incentives. Based on the upper limit of the repurchase price, the lower limit of the buyback amount of 100 million yuan corresponds to an estimated repurchase of 10 million shares, accounting for 1.44% of the company's total share capital. The upper limit of 150 million yuan corresponds to an estimated repurchase of 15 million shares, accounting for 2.16% of the total share capital. The company stated that this move is based on confidence in future development, aiming to enhance investor confidence, safeguard shareholder interests, and improve long-term incentive mechanisms.
Guangdong Mingzhu Group Co LtdCompany announces share buyback plan of 100-150 million yuan, signaling confidence and supporting share price.