Dongshan Precision to launch share repurchase program

Suzhou Dongshan Precision Manufacturing (SZSE:002384) announced a plan to repurchase company shares using its own or other legally compliant funds. The shares, acquired through centralized bidding on the Shenzhen Stock Exchange, will be used for employee stock ownership or equity incentive plans. The total repurchase amount will range from CNY 100 million to CNY 200 million, with a price ceiling of CNY 48.78 per share. This could lead to the repurchase of an estimated 2.05 million to 4.10 million shares, representing approximately 0.12% to 0.24% of the company's total share capital. The repurchase will take place within 12 months of the board's approval date. The company stated that the repurchase reflects its confidence in its future and its commitment to investor value. They also noted that the board is authorized to handle procedures, within legal parameters, for a smooth implementation of the repurchase program. The company has pledged to fulfill information disclosure obligations promptly.