Shenzhen Longsys Electronics' (SHE:301308) chairman and general manager, Cai Huabo, proposed to repurchase shares worth between 400 million yuan and 800 million yuan, according to a Shenzhen bourse filing on Thursday.
The digital storage product manufacturer's shares fell 2% during Friday's morning trade.
The share buyback will be implemented within 12 months after the board of directors' approval.
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