Damon Technology Announces Share Buyback Plan Worth 30-60 Million Yuan

Stock News09-14

Damon Technology Group Co.,Ltd. (688360.SH) has revealed its intention to repurchase its own shares, allocating a budget ranging from 30 million to 60 million yuan for this purpose.

The company's buyback initiative comes with a price ceiling of 23.23 yuan per share, as outlined in the official announcement. The shares acquired through this program are earmarked for the firm's employee stock ownership plan or as incentives for its workforce.

This strategic move is designed to align employee interests with corporate performance, potentially boosting morale and long-term commitment among staff members. By setting a clear price cap, the company aims to manage costs effectively while executing the buyback within market parameters.

The plan underscores the company's confidence in its operational outlook and its dedication to enhancing shareholder value through prudent capital management. Further details regarding the execution timeline and specific procedures will likely follow in subsequent disclosures.

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