On November 13, Suzhou Lianxun Instruments Co., Ltd. (securities abbreviation: Lianxun Instruments) announced a plan to repurchase shares through centralized bidding trading.
The total amount of funds for this share repurchase will be no less than 100 million yuan (inclusive) and no more than 150 million yuan (inclusive), with a price not exceeding 1,538 yuan per share (inclusive). The funds will come from the company's own funds or self-raised funds, and the period will be within 12 months from the date the board of directors approves the plan.
Based on a maximum repurchase amount of no more than 150 million yuan (inclusive) and a maximum price of no more than 1,538 yuan per share (inclusive), the number of shares to be repurchased this time is approximately 97,529 shares, accounting for about 0.06% of the company's total share capital. Based on a minimum amount of no less than 100 million yuan (inclusive), the number of shares to be repurchased is approximately 65,020 shares, accounting for about 0.04% of the company's total share capital.
The repurchased shares will be used for equity incentives or employee stock ownership plans. The repurchased shares will be transferred within three years after the company discloses the announcement of the share repurchase implementation results and share changes. If the repurchased shares cannot be fully transferred within the above-mentioned prescribed period, the untransferred portion will be cancelled in accordance with procedures.
Previously, on November 5, Hu Haiyang, the controlling shareholder, actual controller and chairman of Lianxun Instruments, issued a proposal letter suggesting that the company use its own funds or self-raised funds to repurchase part of the company's already issued A-shares through centralized bidding. From the proposal to approval by the board of directors, the entire process took only 8 days.
Lianxun Instruments was listed on April 24 this year. On May 18, it surpassed Kweichow Moutai to become the "stock king" of A-shares, less than one month after its listing. However, the company's stock price has been declining recently, falling more than 18% since November.
On November 13, Lianxun Instruments closed down 13.08% at 718.05 yuan per share, with a latest market value of 109.1 billion yuan.
In terms of performance, Lianxun Instruments achieved revenue of 2.512 billion yuan in the third quarter, a year-on-year increase of 711.40%; net profit attributable to the parent company was 1.439 billion yuan, a year-on-year increase of 3,488.07%. In the first three quarters, it achieved revenue of 4.043 billion yuan, a year-on-year increase of 401.91%; net profit attributable to the parent company was 2.006 billion yuan, a year-on-year increase of 1,975.60%.
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