Sunvim Group Co.,Ltd commences an Equity Buyback Plan for CNY 200 million worth of its shares, under the authorization approved on January 21, 2021.
January 22, 2021 at 07:37 pm
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Sunvim Group Co.,Ltd (SZSE:002083) commences share repurchases on January 22, 2021, under the program mandated by the shareholders in the Extraordinary General Meeting held on January 21, 2021. As per the mandate, the company is authorized to repurchase up to CNY 7 million worth of its class A shares. The shares will be repurchased at a price of not more than CNY 7 per share. The purpose of the program is to to cancel the registered capital according to law and thus promote the company’s stock market price to match its intrinsic value. The program will be funded out of the company's own funds or self-raised funds. The program is valid till earlier of 12 months from the date of approval of the shareholders' meeting or the date when the amount of repurchase funds used reaches the maximum limit, unless terminated by the Board on an earlier date.
SUNVIM GROUP CO.,LTD. is a China-based company principally engaged in the production and distribution of home textile products. The Companyâs products are categorized into towel series and decorative cloth series, including towels, bedding, decorative fabrics and yarns. The Company distributes its products in domestic market and to overseas markets.
SUNVIM GROUP CO.,LTD 
