Hexing Electrical announces share repurchase plan up to CNY 200m

Hangzhou Haixing Electric Power Technology Co., Ltd. (SSE:603556) announced a share repurchase program with a total fund of between CNY 100 million and CNY 200 million. The repurchased shares will be used for employee stock ownership plans or equity incentives, and any unused shares after 36 months will be cancelled. The repurchase period will last for 12 months, starting May 26, 2025, and ending May 25, 2026, with a maximum repurchase price of CNY 35 per share. The company will use its own funds for the repurchase, conducted through centralized bidding transactions on the Shanghai Stock Exchange. The move aims to enhance long-term incentive mechanisms and boost investor confidence. The company stated that current management has no plans to increase or decrease holdings.