Nanning Baling Technology Co., Ltd. announces an Equity Buyback for CNY 31 million worth of its shares.
January 21, 2021 at 09:30 pm IST
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Nanning Baling Technology Co., Ltd. (SZSE:002592) announces a share repurchase program. Under the program, the company will repurchase up to CNY 31 million worth of its shares. The shares will be repurchased at a price not more than CNY 4.5 per share. The company intends to use its own funds to repurchase shares. The shares repurchased are intended to be used in employee stock ownership plans or equity incentives. The repurchase program will be valid for 12 months from the date of approval.
On January 18, 2022, the company announced that it has adjusted the repurchase price from not more than CNY 4.5 per share to CNY 10 per share.
Nanning Baling Technology Co Ltd is a China-based company mainly engaged in the research and development, production and sales of automotive thermal management system related products and body structure products. The Company's products include high and low radiators, intercoolers, oil coolers and other heat exchangers, condensers and other automotive air-conditioning series, as well as car bumpers. The Company is also engaged in cultural performance business, cell technology and health management service business, plastic and aluminum sales and real estate leasing business. The Company mainly conducts its businesses in domestic market.
NANNING BALING TECHNOLOGY CO., LTD. 
