Shengyi Technology: Chairman Proposes Share Buyback of 200-300 Million Yuan

36Kr reports that Shengyi Technology announced that its chairman, Chen Renxi, proposed using the company's own funds or raised funds to repurchase a portion of its A-share stock via centralized bidding. The total amount for the share repurchase is between 200 million and 300 million yuan, with the shares intended for an employee持股 plan or equity incentives. The upper limit of the repurchase price will not exceed 150% of the average trading price of the stock over the preceding 30 trading days before the board resolves on the repurchase plan. The repurchase period is within 12 months from the date the board approves the plan. Chen Renxi has no plans to increase or decrease holdings during the repurchase period and has committed to promoting the board's review of the repurchase matter.