Guangdong Hongda Chairman Proposes Share Buyback of 50 Million to 100 Million Yuan for Equity Incentives or

Guangdong Hongda (002683) announced on July 30 that its chairman, Gao Hongqing, proposed that the company repurchase its shares through centralized bidding, with the funds to be used for an equity incentive plan or an employee stock ownership plan. The total amount of funds for the share repurchase shall be not less than RMB 50 million (inclusive) and not more than RMB 100 million (inclusive).