Haier Biomedical spends 59m yuan on share buybacks

Qingdao Haier Biomedical has repurchased 1.85 million shares for 59.3 million yuan through the Shanghai Stock Exchange, representing 0.58% of total share capital.

The buyback program, approved in January, allows total spending of 100-200 million yuan. The company plans to use repurchased shares for employee stock ownership plans within 12 months.