FilingReader Intelligence

Huagong Tech announces share repurchase plan, secures loan

April 16, 2025 at 05:38 PM UTCBy FilingReader AI

Huagong Tech (SZSE:000988) announced a plan to repurchase its A-shares through centralized bidding, utilizing both self-owned funds and a special loan for stock repurchase. The repurchased shares are intended for future employee stock ownership plans or equity incentives. The total repurchase amount will range from CNY 300 million to CNY 400 million, with a repurchase price not exceeding CNY 62.80 per share. Based on these figures, the company anticipates repurchasing between 4,777,070 and 6,369,426 shares, representing approximately 0.48% to 0.63% of the current total share capital. The repurchase period will last up to 12 months from the date the board approved the plan. The company has secured a loan commitment from China Minsheng Bank's Wuhan branch, covering up to 90% of the repurchase amount, with a term not exceeding three years. The board has confirmed that the repurchase will not impact the company's debt-servicing capabilities or ongoing operations.

This report was generated by FilingReader's AI system from regulatory filings and company disclosures. To request a correction, contact editorial@filingreader.com

SZSE:000988Shenzhen Stock Exchange

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