Summary by Moomoo AI
On February 23, 2024, Flat Glass Group Co., Ltd. held a board of directors meeting and decided to repurchase some of its A-share stocks through centralized competitive bidding trading, to be used for equity incentives or employee shareholding plans. The repurchase price shall not exceed RMB 30 per share, with a total amount of funds between RMB 300 million and RMB 600 million and a term not exceeding 6 months. As of the date of opinion verification, a total of 8,250,600 A-shares have been repurchased. As the repurchased shares do not enjoy shareholder rights, differential dividends were implemented for the profit distribution of 2023. On June 17, 2024, the Shareholders' Meeting approved a plan to distribute a cash dividend of RMB 0.38 per share, with a total amount of cash dividends expected to be RMB 887,219,698.78, accounting for 32.15% of the net profit for the year. The calculation based on the ex-right and ex-dividend reference price shows that the absolute value of the impact of differential equity distribution on the stock price is below 1%.