Wuxi Taiji to repurchase shares for cancellation

Wuxi Taiji Industry (SSE:600667) announced plans to repurchase company shares through centralized bidding transactions, with the intention of canceling them to reduce registered capital. The repurchase will involve funds between CNY 100 million and CNY 120 million sourced from the company's own or self-raised funds. The repurchase price is capped at CNY 10.38 per share, no more than 150% of the average trading price of the company's shares in the 30 trading days prior to the board's resolution. The repurchase period extends for 12 months from the date of shareholder approval. The company has obtained a letter of commitment from ICBC Wuxi Branch for financing support of up to CNY 108 million. The plan is subject to shareholder and creditor approval.