TCL Tech announces share repurchase plan for up to CNY 800m

TCL Technology Group Corp announced its plan to repurchase part of its publicly issued shares using its own funds and special loans for stock repurchase, with the goal of implementing employee stock ownership or equity incentive plans. The total repurchase amount will range from CNY 700 million to CNY 800 million, at a price not exceeding CNY 6.70 per share. Based on the maximum repurchase amount and price, the company expects to repurchase approximately 119.403 million shares, representing approximately 0.64% of the current total share capital. The repurchase period will last for 12 months from the date of approval at the company's eighth board of directors ninth meeting. The company has already obtained a loan commitment from Industrial and Commercial Bank of China for up to CNY 720 million for the repurchase plan. The board believes that the repurchase will not significantly impact the company's operations, finances, or future development and will not impair its debt-servicing capabilities.