Shenzhen Genvict Technologies Co., Ltd. announces an Equity Buyback for CNY 180 million worth of its shares.
November 15, 2022 at 11:00 am EST
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Shenzhen Genvict Technologies Co., Ltd. (SZSE:002869) announces a share repurchase program. Under the program, the company will repurchase not more than CNY 180 million worth of its shares. The shares will be repurchased at a price not more than CNY 31.64 per share. The shares repurchased will be used for ESOP or equity incentives. The program will be valid for not more than 12 months.
On July 8, 2023, the company announced that after the 2022 profit distribution, the company adjusted the maximum repurchase price from not more than CNY 31.64 per share to not more than CNY 31.58 per share.
Shenzhen Genvict Technologies Co., Ltd. is a China-based company principally engaged in the provision of core equipment and solutions for intelligent transportation and Internet of things (IOT). The Company's main products include highway electronic toll collection (ETC) products, path identification products, multi-lane free flow ETC products, vehicle infrastructure cooperative systems, smart parking products and radio frequency identification (RFID)-based IoT identification products. The Companyâs products are mainly applied to intelligent transportation and travel areas such as highways, urban transportation and vehicle management. The Company operates its businesses within the domestic market and to overseas markets.
SHENZHEN GENVICT TECHNOLOGIES CO., LTD. 
