Songyuan Safety announced on September 29 that controlling shareholder, actual controller, and chairman Hu Chanming proposed the company use its own funds and or self-raised funds to buy back part of its shares, with a buyback amount of no less than 50 million yuan and no more than 100 million yuan. The buyback price ceiling is 150% of the average trading price over the 30 trading days before the board approves the plan, and the buyback period is within 3 months from the date the board approves the plan. In the first half of 2026, Songyuan Safety achieved revenue of 1.389 billion yuan and net profit attributable to the parent of 124 million yuan.
Zhejiang Songyuan Automotive SafetyControlling shareholder and chairman Hu Chanming proposed a 50-100 million yuan share buyback, a financial/valuation event for the company.
