Zhejiang Taihua New Material Group Co., Ltd. announces an Equity Buyback for CNY 100 million worth of its shares.
March 22, 2024
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Zhejiang Taihua New Material Co.,Ltd (SHSE:603055) announces a share repurchase program. Under the program, the company will repurchase up to CNY 100 million worth of its A shares. The shares will be purchased at a price not exceeding CNY 13.93 per share. The repurchased shares will be used for ESOP or equity incentives. The program will be funded from company's own funds. The program will be valid for 12 months.
On May 30, 2024, the company announced that it has adjusted its repurchase price from CNY 13.93 per share to CNY 13.77 per share. The adjustment will be effective from June 6, 2024.
Zhejiang Taihua New Material Group Co Ltd, formerly Zhe Jiang Taihua New Material Co Ltd is a China-based company principally involved in the nylon weaving business. The Company operates through two main segments. The Main Business segment is primarily involved in the research, development, manufacturing and sales of nylon finished fabric-centered textile materials. The Companyâs main products are nylon filament, nylon fabric and nylon finished fabric. The Other Business segment is mainly involved in rental housing and sales of scraps.
ZHEJIANG TAIHUA NEW MATERIAL GROUP CO., LTD. 
