Sungrow Power Plans Share Buyback of RMB 500m-1 billion for Employee Incentives
Sungrow Power Supply announced a share repurchase plan worth RMB 500 million to RMB 1 billion, using its own or self-raised funds, for future employee stock ownership or equity incentives. The buyback will be executed via centralized bidding within 12 months at a price not exceeding RMB 188 per share. Several other companies also announced buybacks for capital reduction or incentives.
Sungrow Power Supply announced that it intends to repurchase shares using no less than RMB 500 million and no more than RMB 1 billion of its own or self-raised funds, through centralized bidding, for future implementation of employee stock ownership plans or equity incentives. The repurchase period is 12 months, and the buyback price will not exceed RMB 188 per share (inclusive).
Shandong Hi-Speed plans to repurchase shares worth RMB 100 million to RMB 200 million, to be cancelled to reduce registered capital. Shenglan Technology plans to repurchase RMB 100 million to RMB 200 million in shares, Dinglong shares plans to repurchase RMB 100 million to RMB 200 million, Bethel plans to repurchase RMB 100 million to RMB 200 million of company shares, Unilumin Group plans to repurchase RMB 50 million to RMB 100 million in shares, and Hongjing Technology plans to repurchase RMB 30 million to RMB 50 million in shares.