Hundsun Technologies announces share repurchase plan up to CNY 40m

Hundsun Technologies (SSE:600570) has announced a plan to repurchase shares via centralized bidding transactions, with a total repurchase amount ranging from CNY 20 million to CNY 40 million, using its own funds. The repurchased shares will be cancelled to reduce the company's registered capital. The repurchase price will not exceed CNY 44.38 per share, capped at 150% of the average trading price in the 30 trading days prior to the board resolution. The repurchase period will be within six months from the date of shareholder approval. The company's directors, senior management, controlling shareholders, and shareholders holding more than 5% of the shares have no plans to reduce their holdings within the next six months. The company stated this move is to maintain the company's value and shareholder interests, enhance investor confidence, and promote the alignment of the stock market price with its intrinsic value. The plan is still subject to shareholder approval.