Zhejiang Satellite Petrochemical plans repurchase, delays quarterly report

Zhejiang Satellite Petrochemical has announced a plan to repurchase company shares for CNY 200 million to CNY 400 million using its own funds. The repurchased shares are intended for an employee stock ownership plan or other equity incentives, at a price not exceeding CNY 29.50 per share. The company estimates this will allow it to repurchase between 6,779,661 and 13,559,322 shares, representing approximately 0.20% to 0.40% of the current total share capital.