Kinwong Electronics Chairman Proposes A-Share Buyback of RMB 50 Million to RMB 100 Million

Deep News10-19

Kinwong Electronics (03228) announced that, based on confidence in the company's continued future development and recognition of the company's value, in order to boost investor confidence, safeguard the interests of the broad investor base, and further establish and improve the company's long-term incentive mechanism while fully motivating employee enthusiasm, the company's Chairman Mr. Liu Shaobai has proposed that the company repurchase a portion of its shares through centralized bidding transactions, taking into account the company's current operating conditions, business development prospects, financial position, and future capital use plans.

The repurchase amount shall be no less than RMB 50 million and no more than RMB 100 million.

The repurchased shares will be used in due course for equity incentives and/or employee stock ownership plans.

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