Zhejiang Sanhua Intelligent Controls Co., Ltd. commences an Equity Buyback for 30,000,000 shares, for CNY 600 million, under the authorization approved on December 7, 2018.
December 27, 2018
Share
Zhejiang Sanhua Intelligent Controls Co., Ltd. (SZSE:002050) commences share repurchases on December 27, 2018, under the program mandated by the shareholders in the Annual General Meeting held on December 7, 2018. As per the mandate, the company is authorized to repurchase up to 30,000,000 shares for CNY 600 million. The company will spend not less than CNY 200 million to repurchase the shares. The repurchase price will not exceed CNY 20 per share. The repurchased shares will be used for ESOP or equity incentive plan, conversion of convertible corporate bonds issued by the company. The plan is valid till the next 12 months from the date of approval at shareholders' meeting.
Zhejiang Sanhua Intelligent Controls Co, Ltd. is specialized in designing, manufacturing and marketing appliance parts. The group also develops thermal management, heat exchange and intelligent control solutions for buildings, appliances and vehicles. Products include shut-off valves, electronic and electromagnetic expansion valves, compressors, and electromechanical hydraulic control pumps.
Zhejiang Sanhua Intelligent Controls Co., Ltd. commences an Equity Buyback for 30,000,000 shares, for CNY 600 million, under the authorization approved on December 7, 2018.
ZHEJIANG SANHUA INTELLIGENT CONTROLS CO.,LTD 
