Shanghai YongLi Belting Co., Ltd commences an Equity Buyback Plan for CNY 15 million under the authorization approved on November 21, 2023.
December 27, 2023 at 03:43 pm IST
Share
Shanghai YongLi Belting Co., Ltd (SZSE:300230) commences share repurchases on December 26, 2023, under the program mandated by the shareholders in the Annual General Meeting held on November 21, 2023. As per the mandate, the company is authorized to repurchase up to CNY 15 million worth of its common stock. The shares will be repurchased at a purchase price of CNY 5.80 per share. The program will be funded from company's own funds. The shares repurchased will be cancelled. The program will be valid for 12 months from shareholders meeting?s approval date.
On May 22, 2024, the company adjusted its upper limit on shares repurchase price after the implementation of equity distribution. The company has adjusted repurchase price to CNY 5.68 per share.
Shanghai Yongli Belting Co., Ltd. is a China-based company principally engaged in the research, development, production and distribution of light type conveyer belts. The Companyâs main businesses include research, development, production and distribution of light type conveyer belts, automotive and home appliances mold plastic parts, electronics, telecommunications and precision toys mold plastic parts, as well as automatic sorting system. Through its subsidiaries, the Company is also engaged in investment and management of assets.
SHANGHAI YONGLI BELTING CO., LTD 
