Huaqin Technology to Repurchase Between 150 Million and 200 Million Yuan Worth of A-Shares

Stock News07-20

Huaqin Technology Co.,Ltd. (ASX: 603296) has announced a plan to repurchase a portion of its A-shares. The company stated that the decision is based on its strong confidence in future development prospects and a high recognition of the company's long-term value.

The move aims to safeguard the interests of investors, particularly minority shareholders, boost investor confidence, and further improve the company's long-term incentive mechanisms. The goal is to fully motivate the management team, core staff, and outstanding employees, enhancing team cohesion and competitiveness.

This initiative effectively aligns the interests of shareholders, the company, and the core team, encouraging all parties to jointly create greater value for the company's long-term development and deliver sustained, stable returns to shareholders.

The company intends to use its own funds to repurchase some of its domestically issued Renminbi ordinary shares (A-shares) through centralized bidding on the secondary market. The repurchased shares are planned to be used for implementing an employee stock ownership plan or equity incentive scheme.

The repurchase price will not exceed 100 yuan per share, inclusive. The total amount of funds earmarked for the repurchase is set to be no less than 150 million yuan and no more than 200 million yuan, inclusive.

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