Zhongji Innolight Co., Ltd. announces an Equity Buyback for CNY 300 million worth of its shares.
September 16, 2022 at 02:01 pm IST
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Zhongji Innolight Co., Ltd. (SZSE:300308) announces a share repurchase program. Under the program, the company will repurchase up to CNY 300 million worth of its A shares. The shares will be purchased at a price not exceeding CNY 40 per share.
The repurchased shares will be used for the implementation of ESOP or equity incentive plan. The program will be funded from company's own funds. The program will be valid for 12 months.
ZHONGJI INNOLIGHT CO., LTD. is a China-based company mainly engaged in high-end optical communication transceiver module business and intelligent equipment manufacturing business. The Company is committed to the research, development, manufacturing and sales of high-end optical communication transceiver modules. The products mainly serve the fields of cloud computing data centers, data communications, 5G wireless networks and telecommunications transmission networks. The intelligent equipment manufacturing business includes the research and development, manufacturing, sales and after-sales service of motor stator winding manufacturing equipment. The products are mainly used in automotive motors, industrial motors, household appliances motors and other fields. The Company operates its businesses in both domestic and overseas markets.