Shanghai Carthane Co.,Ltd. commences an Equity Buyback Plan for CNY 60 million worth of its shares, under the authorization approved on September 13, 2021.
March 08, 2022
Share
Shanghai Carthane Co.,Ltd. (SHSE:603037) commences a share repurchases on March 7, 2022, under the program mandated by the shareholders in the Extraordinary General Meeting held on September 13, 2021. As per the mandate, the company is authorized to repurchase up to CNY 60 million worth of its shares. The company will repurchase its shares at a price not exceeding CNY 20 per share. The company will use its own funds to repurchase its shares. The authorization will be valid for a period of 12 months from the date of approval.
On October 26, 2021, the company announced that the repurchased shares will be used for the subsequent implementation of the employee stock ownership plan.
Shanghai Carthane Co., Ltd. is principally engaged in design, research and development, manufacture and sales of suspension damping internal components, pedal assemblies and plastic core-rubber-tires. Suspension damping internal components include buffers, spring cushion s, damping support blocks, and dust covers. Pedal assemblies mainly include plastic pedal assemblies. Plastic core-rubber-tires include automobile assembly lines and polyurethane tires applied in electric fork-lift trucks.
Shanghai Carthane Co.,Ltd. commences an Equity Buyback Plan for CNY 60 million worth of its shares, under the authorization approved on September 13, 2021.
SHANGHAI CARTHANE CO.,LTD. 
