Guangzhou Shangpin Home Collection Co., Ltd. announces an Equity Buyback for CNY 50 million worth of its shares.
April 28, 2024
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Guangzhou Shangpin Home Collection Co., Ltd. (SZSE:300616) 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 of CNY 20 per share. The purpose of the share repurchases is to safeguard the company's value and shareholders' rights. All shares repurchased will be sold within twelve months after the announcement of the repurchase results and share changes, and the sale will be completed within three years after the disclosure of the repurchase results and share changes announcement. If the company fails to complete the sale within the legal period, the unsold portion will be cancelled. The repurchases will be funded using company's own funds. The program is valid for 3 months.
On June 3, 2024, the company amended its share repurchase program. The shares will be repurchased at a price not exceeding CNY 19.12 per share.
Guangzhou Shangpin Home Collection Co Ltd is a company mainly engaged in manufacturing and sales of furniture and provision of related services. The Company operates two segments. The Furniture Manufacturing and Sales segment provides clients with the production and services of customized furniture products. The segment provides full-roof custom furniture products and supporting furniture products, such as sofa coffee table combinations, dining tables and chairs. The Research, Development, Production and Sales of Software segment is involved in providing customized furniture-related software, including Liangchibao, Zhangshang Puzhuanwang and customized furniture production separate orders system.