Shenzhen Crastal Technology Co.,Ltd announces an Equity Buyback for CNY 30 million worth of its shares.
March 14, 2024 at 04:36 am EDT
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Shenzhen Crastal Technology Co.,Ltd (SZSE:300824) announces a share repurchase program. Under the program, the company will repurchase up to CNY 30 million worth of its shares. The repurchase price will not more than CNY 10 per Share. The repurchased shares will be used for employee stock ownership plan or equity incentives. The repurchases will be funded using company's own funds. The repurchase period will be not more than 12 months.
On April 26, 2024, the company announced that it has adjusted its share repurchase price from not more than CNY 10.00 per share to not more than CNY 9.80 per share. This will be effective from May 8, 2024, onwards.
Shenzhen Crastal Technology Co Ltd is a China-based company principally involved in the research and development (R & D), manufacturing and sales of small kitchen appliances and ancillary products. The Company's products include health pots, electric kettles, toasters, ovens, water dispensers and steamers, as well as supporting health foods and peripheral products. Its own brand is BUYDEEM. The Company also provides R & D and production services to international brands through Original Equipment Manufacturer (OEM)/Original Design Manufacturer (ODM) models. The Company distributes its products in domestic market and to overseas markets.