Xilinmen Furniture Co.,Ltd commences an Equity Buyback Plan for CNY 250 million worth of its shares, under the authorization approved on May 23, 2023.
July 03, 2023
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Xilinmen Furniture Co.,Ltd (SHSE:603008) commences share repurchases on July 3, 2023, under the program mandated by the shareholders in the Annual General Meeting held on May 23, 2023. As per the mandate, the company is authorized to repurchase to repurchase up to CNY 250 million worth of shares. The shares will be repurchased at a price of not more than CNY 45 per share.
The shares will be used to reduce the Companyâs registered capital. The plan is valid till 12 months.
Xilinmen Furniture Co., Ltd is principally engaged in the design, research, development, production and distribution of furniture products. The Company's major businesses include civil furniture business, hotel furniture business and movie and television (TV) culture business. Civil furniture business is involved in the sale of mattresses, soft beds and other bedroom furniture. The Company operates its hotel furniture business primarily through the offering of indoor furniture and decoration related wood products for starred hotels and large public construction projects. Its movie and TV culture business consists of the investment, production, distribution and related businesses of movie and TV programs.