Chint Electric announces share repurchase plan up to CNY 540m

Zhejiang Chint Electric (SSE:601877) announced a share repurchase plan on April 16, 2025, with the intention of using the repurchased shares for an employee stock ownership plan. The company will use its own funds or self-raised funds for the repurchase, with a total amount ranging from CNY 270 million to CNY 540 million. The repurchase price will not exceed CNY 35.56 per share. The repurchase period will not exceed 12 months from the date the board of directors approved the repurchase plan. The company aims to enhance investor confidence and improve its long-term incentive mechanisms through this buyback. As of September 30, 2024, Chint Electric's monetary funds were CNY 1,126,949.34 million.