Tianma Microelectronics announces share repurchase plan up to CNY200m

Tianma Microelectronics (SZSE:000050) announced a plan to repurchase company shares for a total amount ranging from CNY150 million to CNY200 million. The repurchased shares will be used to reduce the company's registered capital. The repurchase price will not exceed CNY12.43 per share. Based on the maximum repurchase amount, the company estimates it can repurchase approximately 16,090,104 shares, representing about 0.65% of the current total share capital. The source of funds will be the company's own funds or bank loans. The repurchase period will be within 12 months from the date the shareholders' meeting approves the plan. The company's board believes the repurchase will not materially impact the company's operations, finances, research and development, or debt repayment capabilities. The plan is subject to shareholder approval.