Shanghai Haohai Biological Technology Co., Ltd. commences an Equity Buyback Plan for 1,538,461 shares, representing 0.9% for CNY 200 million, under the auhtorization approved on September 15, 2023.
September 26, 2023
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Shanghai Haohai Biological Technology Co., Ltd. (SEHK:6826) commences share repurchases on September 26, 2023, under the program mandated by shareholders in the Extraordinary General Meeting held on September 15, 2023. As per the mandate, the company is authorized to repurchase up to 1,538,461 shares, representing 0.9% of its share capital for CNY 200 million. The shares will be repurchased at a price not more than CNY 130 per share. The repurchased shares will be used for equity incentive and/or employee shareholding plan. If the company fails to utilize shares for the said purpose within three years after the publication of the announcement on the results of the Share Repurchase and shareholding changes, the A Shares repurchased under the Repurchase Plan remained unused will be cancelled pursuant to the applicable laws. The authorization will be valid for 12 months. As of August 28, 2023, the company had 171,287,974 Shares comprising 32,895,100 H Shares and 138,392,874 A Shares.
On June 20, 2024, the company adjusted its repurchase price from CNY 130 per share to CNY 92.48 per share.
Shanghai Haohai Biological Technology Co., Ltd. is a China-based company principally engaged in biological technology-related businesses. The businesses of the Company include the manufacture and sales of biological and medical hyaluronate, the research and development of biological engineering and pharmaceutical products and the provision of related services. Its products include orthopedics products, medical aesthetics and wound care products, ophthalmology products and anti-adhesion and hemostasis products, among others. Orthopedics products include sodium hyaluronate injection, medical chitosan and medical sodium hyaluronate gel. Medical aesthetics and wound care products include recombinant human epidermal growth factor (rhEGF), among others. Ophthalmology products include ophthalmic viscoelastic devices and lubricant eye drops. Anti-adhesion and hemostasis products include medical collagen sponges, among others. The Company mainly operates businesses in Mainland China.
Shanghai Haohai Biological Technology Co., Ltd. commences an Equity Buyback Plan for 1,538,461 shares, representing 0.9% for CNY 200 million, under the auhtorization approved on September 15, 2023.