Shanghai GenTech Co., Ltd. announces an Equity Buyback for CNY 50 million worth of its shares.
February 05, 2024
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Shanghai GenTech Co., Ltd. (SHSE:688596) announces a share repurchase program. Under the program, the company will repurchase up to CNY 50 million worth of its A shares. The shares will be repurchased at a price not more than CNY 40 per share.
The repurchased shares will all be used for employee stock ownership plans or equity incentives. The company will use its own funds or self-raised funds to repurchase its shares. The program is valid for 6 months.
Shanghai GenTech Co Ltd is a China-based company that provides comprehensive solutions for process media and process environment. Its main businesses are divided into three categories. The design, production, installation and supporting business of gas chemical supply system provide products which include special gas tanks, shunt boxes, liquid source conveying equipment, pharmaceutical liquid mixing units, etc. The main products of the production and sales of high-purity specialty gases business include arsine, phosphorane, silane and mixed gases. The design and construction of the supporting system of the clean plant business include clean room air conditioning systems, air filtration systems and interior decoration, as well as process cooling water systems, clean compressed air systems and vacuum systems. Its products are used in industries such as pan-semiconductor, optical fiber communications and pharmaceutical manufacturing.
SHANGHAI GENTECH CO., LTD. 
