Changchun High-Tech Industries (000661.SZ) announced on November 15 that the company plans to use its own funds and funds from financial institutions' special share buyback loans to repurchase some of the RMB ordinary shares (A shares) already issued domestically by the company through centralized bidding trading, all to be used for future implementation of the company and its subsidiaries' core team stock-based incentives or employee stock ownership plans.
The total amount of funds for this repurchase is not less than RMB 0.3 billion (inclusive) and not more than RMB 0.5 billion (inclusive), with a repurchase price not exceeding RMB 160.00 per share. Based on the estimated upper limit of RMB 0.5 billion for the funds to be used for repurchase, the estimated number of repurchased shares is approximately 3.125 million shares, accounting for approximately 0.78% of the total share capital of the company; based on the estimated lower limit of RMB 0.3 billion for the funds to be used for repurchase, the estimated number of repurchased shares is approximately 1.875 million shares, accounting for approximately 0.47% of the total share capital of the company. The number of repurchased shares this time will not exceed 10% of the total shares issued by the company, and the specific number of repurchased shares will be based on the actual number of shares repurchased when the repurchase period expires.
As of the date of this announcement, the company has obtained a "Loan Commitment Letter" from Ping An Bank Co., Ltd. Changchun Branch, agreeing to provide a loan support of RMB 0.35 billion with a business term of 1 year for the company's implementation of share buyback projects.
