Zhejiang ZUCH Technology Co., Ltd announces an Equity Buyback for CNY 50 million worth of its shares.
February 06, 2024 at 11:36 am
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Zhejiang ZUCH Technology Co., Ltd (SZSE:301280) announces a share repurchase program. Under the program, the company will repurchase up to CNY 50 million worth of class A shares. The shares will be repurchased at a price of not more than CNY 56.43 per share. The shares purchased will be used for the company's equity incentive plan or ESOP. The program will be valid till 12 months.
On May 6, 2024, the company announced that it has adjusted its share repurchase price from no more than CNY 56.43 per share (inclusive) to no more than CNY 55.44 per share (inclusive). The adjusted repurchase price cap will take effect on May 8, 2024.
Zhejiang Zuch Technology Co Ltd is a China-based company focusing on the research and development (R&D), production and sales of electronic connectors. The Company's products are mainly divided into terminal components and harness connectors. The terminal component is mainly composed of terminal, needle seat, hole seat and other parts, which is the core component of the connector. The harness connector is processed and assembled from terminal components, wires and other auxiliary materials, and can be directly used in terminal products. The Company's products are mainly used in consumer appliances, intelligent terminals and automobiles. The Company's products are sold to domestic and foreign markets.
ZHEJIANG ZUCH TECHNOLOGY CO., LTD 
