Asia Cuanon Technology Co.,Ltd. announces an Equity Buyback for CNY 100 million worth of its shares.
January 26, 2021
Share
Asia Cuanon Technology (Shanghai) Co., Ltd. (SHSE:603378) announces a share repurchase program. Under the program, the company will repurchase class A shares, for not more than CNY 100 million. The shares will be purchased at a price not more than CNY 60 per share. The repurchase program will be funded from company's own funds. The repurchased shares will be used for implementing the company's equity incentive plan. The repurchase program is valid till January 25, 2022.
On April 23, 2021, the company announced that the company has changed its repurchased price from CNY 60 per share to CNY 80 per share.
ASIA CUANON TECHNOLOGY (SHANGHAI) CO., LTD. is a China-based company principally engaged in research, development, manufacturing, sales and service-providing of building insulation decoration integrated products, building insulation materials, functional architectural coatings and its application systems. The Company operates through two main segments. The Main Business segment is principally involved in the sales of building decoration materials, including insulation decorative panels, real gold fire insulation board and functional architectural coatings, among others. The Other Business segment is mainly engaged in the sales of related supporting materials.