Shanghai Guangdian Electric Group Co., Ltd. announces an Equity Buyback for CNY 300 million worth of its shares.
February 18, 2021
Share
Shanghai Guangdian Electric Group Co., Ltd. (SHSE:601616) announces a share repurchase program. Under the program, the company will repurchase up to CNY 300 million worth of its common stock. The shares will be repurchased at a purchase price of CNY 4.45 per share. The shares repurchased will be used to maintain the company's value and shareholders' equity. The program will be valid for 3 months.
Shanghai Guangdian Electric Group Co., Ltd. is a China-based company principally engaged in the research, development, manufacture and sales of power transmission and distribution equipment and control equipment, as well as the provision of related services. The Company operates its business mainly through three segments. The Complete Equipment segment provides 40.5 kilovolt (VK) or below alternating current (AC) medium voltage switchgears, ring main units (RMUs), AC low voltage switchgears, direct current (DC) switchgears, power cabinets and boxes, control cabinets and boxes and lighting boxes. The Components segment provides 40.5 kV and below medium-voltage circuit breakers, low-voltage circuit breakers and intelligent control components. The Power Electronics segment provides high voltage inverters and active filters. The Company distributes its products mainly in domestic market.
SHANGHAI GUANGDIAN ELECTRIC GROUP CO., LTD. 
