Zhejiang China Commodities City Group share buy

Zhejiang China Commodities City Group (SSE:600415) announced that its controlling shareholder, China Commodities City Holding, intends to increase its holdings in the company. The buyback plan, to be executed through centralized bidding and block trades on the Shanghai Stock Exchange, will amount to between CNY 500 million and CNY 1 billion. The buyback period is 12 months from the date of this announcement, with the goal of boosting investor confidence and supporting the company’s long-term growth. The controlling shareholder currently holds 3,038,179,392 shares, or 55.40% of the total share capital. China Commodities City Holding will not reduce its holdings during the buyback period and other legal restrictions.