Longsys Plans RMB 400-800 Million Share Buyback for Equity Incentives
Longsys plans to repurchase its own shares for between RMB 400 million and RMB 800 million through centralized bidding trading. The buyback price will be capped at RMB 735 per share, and the shares will be earmarked for equity incentives or an employee stock ownership plan. The repurchase is to be completed within 12 months of board approval.
Longsys announced that it intends to repurchase its own shares through centralized bidding trading, with a total buyback amount of no less than RMB 400 million and no more than RMB 800 million. The repurchase price will not exceed RMB 735 per share, and the repurchased shares will be used for equity incentives or an employee stock ownership plan. The buyback period will run for 12 months from the date the board of directors approves the buyback plan.