FIYTA Precision Technology Co., Ltd. commences an Equity Buyback Plan for CNY 100 million worth of its shares, under the authorization approved on April 26, 2023.
May 26, 2023 at 12:00 pm EDT
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FIYTA Precision Technology Co., Ltd. (SZSE:200026) commences share repurchases on May 26, 2023, under the program mandated by the shareholders in the Annual General Meeting held on April 26, 2023. As per the mandate, the company is authorized to repurchase up to CNY 100 million worth of its B shares. The shares will be repurchased at a price not more than HKD 8.65 per share. The program will be funded from company's own funds. The repurchased shares will be cancelled. The repurchase will be for 12 months from the shareholders? approval date.
From June 15, 2023, the company adjusted the maximum repurchase price from not more than HKD 8.65 per share to not more than HKD 8.37 per share.
FIYTA Precision Technology Co., Ltd., formerly FIYTA HOLDINGS LTD., is a China-based company mainly engaged in the research and development, design, manufacture, sales and repairing of watches and the related parts and accessories. The Company's core businesses include watch brand management and watch retail services. The Company has its own watch brands FIYTA, Emile Chouriet, JONAS&VERUS and authorized cooperative brands JEEP and BEIJING, as well as watch retail service brands HARMONY and BRAND GALLERY. The Company is also engaged in the operation and leasing of real estates. Through its subsidiary, the Company operates regular chain watch stores named HARMONY. The Company operates its businesses mainly in domestic market.
FIYTA Precision Technology Co., Ltd. commences an Equity Buyback Plan for CNY 100 million worth of its shares, under the authorization approved on April 26, 2023.
FIYTA PRECISION TECHNOLOGY CO., LTD. 
