Qingdao Weflo Valve Co., Ltd. announces an Equity Buyback for CNY 30 million worth of its shares.
June 29, 2021 at 12:00 pm EDT
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Qingdao Weflo Valve Co., Ltd. (SZSE:002871) announces a share repurchase program. Under the program, the company will repurchase up to CNY 30 million worth of shares. The shares will be repurchased at a price of CNY 14.56 per share. The purpose of the program is to use the repurchased shares for ESOP or equity incentives. The program will be funded from the company's own funds and the raised funds that have been changed to permanently supplement the working capital. The plan is valid for 6 months.
QINGDAO WEFLO VALVE CO LTD is a China-based company principally engaged in the design, research and development, manufacture and sales of valve products. The Company's main products include butterfly valves, fire-fighting valves, multi-function valves, globe valves, check valves, ball valves, rubber joints, filters, exhaust valves, balancing valves and bottom valves. Its products are mainly applied in urban water supply and drainage systems, fire water supply systems, air conditioning HVAC systems, and sewage treatment systems. The Company distributes its products with domestic market and to overseas markets.
QINGDAO WEFLO VALVE CO., LTD. 
