Zhe Jiang Hai Liang Co., Ltd announces an Equity Buyback for CNY 250 million worth of its shares.
June 18, 2024 at 05:00 pm
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Zhe Jiang Hai Liang Co., Ltd (SZSE:002203) announces a share repurchase program. Under the program, the company will repurchase up to CNY 250 million worth of its shares. The shares will be purchased at a price not exceeding CNY 12.90 per share. The purpose of the program is to safeguard the interests of the majority of investors and boost investors' confidence in the company's investment. The repurchased shares will be used for employee stock ownership plans or equity incentive plans, otherwise will be cancelled if the company fails to transfer them within the time limit stipulated by relevant laws and regulations. The program will be funded from company's own funds. The repurchase plan is subject to shareholder's approval. The program will be valid for 12 months from the date of approval by the company's general meeting of shareholders.
On July 10, 2024, the company announced that it has adjusted its repurchase price from CNY 13.07 per share to CNY 12.90 per share.
Zhejiang Hailiang Co Ltd is a China-based company mainly engaged in the research and development, production, manufacturing and sales of copper tubes, copper rods, copper foil, copper tube fittings, conductor materials, aluminum profiles and other products. The Company conducts its business through three segments. The Copper and Aluminum Processing Business segment produces copper tubes, copper rods, copper bars and copper foil and other copper and aluminum products. The Environmental Protection Materials Business segment is engaged in the research and development, production and sales of environmental protection materials and others. The Company also conducts business through the Loan Business segment. The Company's products are used in air conditioning and refrigerator refrigeration, traditional and new energy vehicles, building water pipes, seawater desalination and other industries. The Company mainly conducts business in the domestic and foreign markets.
ZHE JIANG HAI LIANG CO., LTD 
