Zhongshan Broad-Ocean Motor Co., Ltd. announces an Equity Buyback for CNY 40 million worth of its shares.
December 03, 2021 at 11:00 am EST
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Zhongshan Broad-Ocean Motor Co., Ltd. (SZSE:002249) announces a share repurchase program. Under the program, the company will repurchase not more than CNY 40 million worth of its shares. The shares will be repurchased at a price not more than CNY 10 per share. The repurchased shares will be used for the implementation of employee stock ownership plans and equity incentives plan. The program will be valid for 12 months.
ZHONGSHAN BROAD-OCEAN MOTOR CO., LTD is an electrical appliance manufacturer. The Company operates its businesses through four segments. The Household Appliances and Household Electrical Appliances segment provides air conditioning load motors, washing machines/dryer motors and others. The New Energy Vehicle Powertrain System segment provides new energy vehicles drive motors and controllers, among others. The Vehicle Rotating Electrical Appliances segment includes traditional car starters and generators. The New Energy Vehicles Operating Platform segment is engaged in the new energy car rental and Internet custom car, new energy vehicle charging station operation, charge pile construction and the provision of other operation and supporting services. The Company conducts its businesses within domestic and overseas markets.
ZHONGSHAN BROAD-OCEAN MOTOR CO., LTD. 
