Chang Lan Electric Technology Co.,Ltd. announces an Equity Buyback for CNY 200 million worth of its shares.
May 16, 2019
Share
Changlan Electric Technology Co., Ltd. (SZSE:002879) commences share repurchases on May 16, 2019, under the program mandated by the shareholders in the Extraordinary General Meeting held on April 10, 2019. As per the mandate, the company is authorized to repurchase up to CNY 200 million worth of its shares. The shares will be repurchased at a price not more than CNY 23 per share. The repurchases will be funded using the company's own funds.
Chang Lan Technology Group Co Ltd, formerly Chang Lan Electric Technology Co Ltd, is a China-based company principally involved in the research, development, manufacture, sales and service-providing of power cable accessories and auxiliary products. The Company operates through two main segments. The Main Business segment is primarily engaged in the sales and manufacture of cable accessories and complete sets of products. The Other Business segment is principally engaged in the sales of cables and scraps. The Companyâs main products include ultra-high voltage cable accessories, high voltage cable accessories, medium and low voltage cables accessories and other products.
CHANG LAN TECHNOLOGY GROUP CO., LTD. 
