Gongniu Group spends 247m yuan on share buybacks

Gongniu Group has repurchased 4.97 million shares worth 247.19 million yuan through its ongoing buyback program, representing 0.27% of total share capital.

The company paid between 47.07 yuan and 50.62 yuan per share, with the repurchased stock intended for employee ownership plans and equity incentives.

The buyback program, approved in April, has a budget of 250-400 million yuan to be completed within 12 months. No shares were repurchased in July.