Shanghai RAAS chair proposes share buyback for incentives

Shanghai RAAS Blood Products (SZSE:002252) announced that Chairwoman Tan Lixia has proposed a share repurchase program. The proposal suggests using company funds to buy back between 250 million RMB and 500 million RMB worth of Class A shares via the Shenzhen Stock Exchange. The repurchased shares would be used for employee stock ownership plans or equity incentives. The repurchase price would not exceed 130% of the average trading price over the 30 days prior to the board's approval of the repurchase resolution. The repurchase would occur within 12 months of shareholder approval. The proposal will be reviewed by the board and shareholders at upcoming meetings. Ms. Tan stated the buyback reflects confidence in the company's future and aims to strengthen investor confidence and build a long-term incentive mechanism.