GEM Co., Ltd. announces an Equity Buyback for CNY 150 million worth of its shares.
June 07, 2023 at 07:54 am EDT
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GEM Co., Ltd. (SZSE:002340) announces a share repurchase program. Under the program, the company will repurchase up to CNY 150 million worth of its shares for CNY 10.29 per share. The purpose of the program is to give ESOP and equity incentives. The program is valid for 12 months.
On August 1, 2023, the company announced that after the 2022 profit distribution, it adjusted the maximum repurchase price from not more than CNY 10.29 per share to not more than CNY 10.24 per share.
GEM Co., Ltd. specializes in the recycling services for non-ferrous metals and secondary materials. The group provides recovery, treatment and recycling services for used batteries, waste electrical and electronic equipment (computer equipment, televisions, mobile phones, etc.) and special solid waste (cars, scrap metal, etc.). The group's products consist mainly of nickel, tungsten cobalt, and thermoplastic composites.
GEM CO., LTD. 
