Guangzhou Echom Sci.&Tech.Co.,Ltd announces an Equity Buyback for CNY 60 million worth of its shares.
February 07, 2024 at 11:00 am EST
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Guangzhou Echom Sci.&Tech.Co.,Ltd (SZSE:002420) announces a share repurchase program. Under the program, the company will repurchase up to CNY 60 million worth of its shares. The shares will be repurchased at a price not more than CNY 5 per share. The repurchased shares will be used for the company?s subsequent equity incentive plan or employee stock ownership plan. The funds for the repurchases are the company's own funds. The program will be valid for a period of 12 months.
On April 26, 2024, the company announced that it has adjusted its share repurchase price to CNY 7 per share.
Guangzhou Echom Sci & Tech Co Ltd is a China-based company principally engaged in the production and sales of injection molding products, such as home appliances and automotive structural parts. The Company is principally engaged in the research and development, production and sales of products, such as automobiles, new energy, medical health, as well as home appliance parts. The Company's principal products include automotive interior and exterior parts and assemblies, new energy thermal management system functional parts and assemblies, medical health molds and consumables, as well as home appliance parts and assemblies. The Company principally conducts its businesses in the domestic market.