Jiangsu Huahong Technology Co., Ltd. announces an Equity Buyback for CNY 50 million worth of its shares.
December 30, 2022 at 11:00 am EST
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Jiangsu Huahong Technology Co., Ltd. (SZSE:002645) announces a share repurchase program. Under the program, the company will repurchase up to CNY 50 million worth of its shares. The shares will be purchased at a price not exceeding CNY 23 per share. The repurchased shares will be used for the implementation of ESOP or equity incentive plan. The program will be valid for 12 months.
On May 26, 2023, the company announced that after the completion of the implementation of the 2022 equity distribution, the maximum repurchase price was adjusted from not more than CNY23 per share to not more than CNY 22.80 per share.
Jiangsu Huahong Technology Co., Ltd. is a China-based company principally engaged in the research, development, manufacture and sales of renewable resources equipment. The Company operates its businesses through two segments. The Renewable Resources segment mainly provides metal packaging equipment, metal shearing equipment, scrap crushing production lines and other metal renewable resources processing equipment, while the Renewable Resources segment is also engaged in the processing and recycling of renewable resources. The Elevator Components segment mainly provides elevator signal systems, door systems and other elevator components. The Company distributes its products in the domestic market and to overseas markets.
JIANGSU HUAHONG TECHNOLOGY CO., LTD. 
