Suntront Technology Co., Ltd. announces an Equity Buyback for CNY 100 million worth of its shares.
October 28, 2022 at 09:30 pm IST
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Suntront Technology Co., Ltd. (SZSE:300259) announces a share repurchase program. Under the program, the company will repurchase up to CNY 100 million worth of class A shares. The shares will be repurchased at a price of not more than CNY 3.6 per share.
The shares purchased will be used for the company's equity incentive plan and employee stock ownership plans. The program will be funded out of the company's own funds. The program will be valid till 12 months.
Suntront Technology Co Ltd is a China-based company mainly engaged in the research and development, production, sales and service of comprehensive Internet of thing (IoT) smart energy solutions and related products. The Company's products mainly include IoT smart water meters, smart gas meters, smart heat meters, and industrial and commercial smart electromagnetic flow meters, smart water services, smart agricultural water conservation, smart water conservancy, smart heat, cloud services, and others. The Company's products cover energy metering, data collection, data monitoring, data analysis, cloud platform services, and others. The Company's products are widely used in digital management of energy management departments such as water companies, gas companies, heating companies, and property companies.