Zhongji Innolight Co., Ltd. (300308.SZ) has announced a major share repurchase proposal.
The company's Chairman and President, Mr. Liu Sheng, has proposed repurchasing the company's domestically traded A-shares through a centralized bidding system on the Shenzhen Stock Exchange. The funds will be sourced from the company's own or self-raised capital. The repurchased shares are intended to be used for equity incentives or employee stock ownership plans at a suitable future date.
The total buyback amount is set to be no less than 4 billion yuan (inclusive) and no more than 8 billion yuan (inclusive).
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