Songyuan Safety announced that the company received a proposal from Hu Chanming, its controlling shareholder, actual controller, and chairman, to use its own funds and or self-raised funds to repurchase part of the company's shares through centralized bidding, for the purpose of maintaining company value and shareholder equity as necessary. The total buyback amount shall be no less than 50 million yuan and no more than 100 million yuan, and the buyback price ceiling shall not exceed 150% of the average trading price of the stock over the thirty trading days prior to the board's approval of the buyback plan. The buyback period shall be within three months from the date of board approval.
Zhejiang Songyuan Automotive SafetyControlling shareholder proposes a 50-100 million yuan share buyback to maintain company value and shareholder equity.
