HuaWu Co. announced that it has received a letter from Chairman, controlling shareholder, and actual controller Nie Jinghua proposing a share buyback. Nie Jinghua proposes that the company use its own funds and/or self-raised funds to repurchase part of its A-shares through centralized bidding. The total buyback amount will be no less than 80 million yuan and no more than 150 million yuan. The maximum buyback price will not exceed 150 percent of the average trading price of the company's stock over the 30 trading days prior to the board's approval of the buyback resolution. The repurchased shares are intended for use in employee stock ownership plans or equity incentive plans.
Jiangxi Huawu Brake Co LtdChairman proposes share buyback of 80-150 million yuan, signaling confidence and supporting stock price.