Yongjin Technology Group Co., Ltd. commences an Equity Buyback for CNY 400 million, under the authorization approved on September 13, 2023.
October 11, 2023
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Yongjin Technology Group Co., Ltd. (SHSE:603995) commences share repurchases on October 10, 2023, under the program mandated by the shareholders in the Extraordinary General Meeting held on September 13, 2023. As per the mandate, the company is authorized to repurchase its A shares for a total of CNY 400 million. The shares will be purchased at a price not exceeding CNY 34.2 per share.
The repurchased shares will be used for reducing the registered capital through cancellation. The program will be funded from company's own funds. The program will be valid for 6 months from the date of the shareholder's meeting i.e., till March 12, 2024.
Yongjin Technology Group Co Ltd, formerly Zhejiang Yongjin Metal Technology Co Ltd, is a China-based company principally engaged in research, development, manufacturing and sales of cold-rolled stainless-steel plate and strip. The Company's main products include precision cold-rolled stainless-steel plate and strip and wide cold-rolled stainless-steel plate and strip. Precision cold-rolled stainless-steel plate and strip are mainly used in electronic information, communication optical cables, medical equipment, environmental protection equipment, auto parts, chemicals, and batteries industries. Wide cold-rolled stainless-steel plate and strip are mainly used in building decoration, daily necessities, household appliances, automobile parts, machinery and equipment, environmental protection equipment, hardware, instruments and elevators industries. The Company also offers products such as stainless-steel water pipes, titanium alloys and special materials for cylindrical battery casings.
YONGJIN TECHNOLOGY GROUP CO., LTD. 
