Dongshan Precision plans share repurchase on chairman's proposal

Suzhou Dongshan Precision Manufacturing (SZSE:002384) announced that it has received a proposal from its actual controller and chairman, Yuan Yonggang, to repurchase company shares. Yuan Yonggang suggested using self-raised or other legally compliant funds to repurchase the company's A-shares through centralized bidding on the Shenzhen Stock Exchange. The proposed repurchase aims to maintain investor interests and enhance confidence in the company’s future. The repurchased shares will be used for employee stock ownership plans or equity incentives. The repurchase price will not exceed 150% of the average trading price of the company's shares in the 30 trading days prior to the board's review, with a total repurchase amount ranging from CNY 100 million to CNY 200 million. The repurchase period will be within 12 months from the date the board of directors approves the plan. The board will deliberate on the proposal soon.