Chint Electric announces share repurchase plan for employee stock ownership

Zhejiang Chint Electrics (SSE:601877) announced plans to repurchase company A-shares through centralized bidding, with funds ranging from CNY 270 million to CNY 540 million. The repurchased shares, priced no higher than CNY 35.56 per share, will be used for an employee stock ownership plan to improve employee cohesion and company competitiveness. The repurchase period will not exceed 12 months from the board's approval date. As of April 15, 2025, the largest shareholders are Chint Group, holding 41.18%, and Zhejiang Chint New Energy Investment, holding 8.39%. The top ten shareholders hold no plans to reduce their holdings in the next six months. The repurchase will not adversely affect the company's operations, solvency, or listing status.