Foxconn Industrial Internet Plans Share Buyback Worth Up to 2 Billion Yuan to Protect Shareholder Value

Deep News07-27

Foxconn Industrial Internet Co.,Ltd. announced on July 27 that it intends to repurchase shares through centralized bidding transactions. The buyback amount will be no less than 1 billion yuan and no more than 2 billion yuan, with a repurchase price not exceeding 103 yuan per share.

Based on these figures, the company is expected to repurchase between 9.71 million and 19.42 million shares, accounting for approximately 0.05% to 0.10% of its current total share capital. The repurchase period will be within three months from the date the plan is approved by the board of directors, which is July 27.

The repurchased shares will be used for sale, and any portion not sold within the specified timeframe will be cancelled. Currently, relevant personnel have no plans to reduce their holdings. The company stated that this buyback will not have a significant impact on its operations, though risks such as the plan not being implemented remain.

This move is aimed at maintaining shareholder rights and stabilizing market confidence. The board has approved the scheme, signaling a proactive approach to capital management amid market fluctuations.

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