Qingdao NovelBeam Technology Co.,Ltd. announces an Equity Buyback for CNY 60 million worth of its shares.
June 15, 2023
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Qingdao NovelBeam Technology Co.,Ltd. (SHSE:688677) announces a share repurchase program. Under the program, the company will repurchase up to CNY 60 million worth of shares. The shares will be repurchased at a price of not more than CNY 90 per share. The shares purchased will be used for the company's ESOP or equity incentives. The program will be valid for 12 months.
On May 8, 2024, the company announced that it has adjusted the purpose of the program from "for the implementation of employee stock ownership plans or equity incentives" to "for cancellation and corresponding reduction of registered capital". The change needs to be submitted to the company's shareholders' meeting for review.
Qingdao NovelBeam Technology Co Ltd is a China-based company principally engaged in the research and development, production and sales of medical endoscopic equipment and optical products. Its main products of medical endoscope equipment include fluorescent endoscopes, fluorescent camera adapters/adaptive lenses, fluorescent light source modules and white light source modules. Its medical endoscopic equipment products are mainly used in abdominal endoscopic surgery such as liver and gallbladder and gastrointestinal surgery. Its optical products mainly include medical optical products, industrial and laser optical products, and biometric products. Among them, the biometric products include fingerprint devices, palmprint devices and related accessories. In addition, the Company also provides technical services and house leasing services. The Company distributes its products both in the domestic market and to overseas markets.
QINGDAO NOVELBEAM TECHNOLOGY CO.,LTD. 
