Ningbo Ronbay New Energy Technology Co.,Ltd. announces an Equity Buyback for CNY 100 million worth of its shares.
June 23, 2024 at 08:43 am
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Ningbo Ronbay New Energy Technology Co., Ltd. (SHSE:688005) announces a share repurchase program. Under the program, the company will repurchase up to CNY 100 million. The shares will be repurchased at no more than CNY 41.98 per share. The purpose of the program is to use the repurchased shares for future implementation of equity incentive plans or employee stock ownership plans. If the company fails to implement the above purposes within the time limit prescribed by laws and regulations, the unused shares will be cancelled. The program will be funded from company's own funds. The program will be valid for 3 months.
On July 4, 2024, the company announced that it has adjusted its repurchase price from CNY 41.98 per share to CNY 41.68 per share. The adjustment will be effective from July 10, 2024.
Ningbo Ronbay New Energy Technology Co Ltd is a China-based company mainly engaged in the research and development (R&D), production and sales of lithium battery cathode materials and their precursors. The Company's core products are NCM811 series, NCA series, Ni90 and above ultra-high nickel series ternary cathode and precursor materials. The ternary cathode materials are mainly used in the manufacture of lithium batteries, and are mainly used in the fields of new energy vehicle power batteries, energy storage equipment and electronic products. The Company's products are sold to domestic and foreign markets.
NINGBO RONBAY NEW ENERGY TECHNOLOGY CO.,LTD. 
