Shandong Hi-Speed announced plans to repurchase part of its shares through centralized competitive bidding. The total buyback amount will be no less than 100 million yuan and no more than 200 million yuan, with a repurchase price not exceeding 17.28 yuan per share. The repurchased shares will be cancelled to reduce registered capital. The company recently obtained a loan commitment letter from China CITIC Bank Jinan Branch, pledging a loan amount of up to 180 million yuan with a term of no more than three years, specifically for the share buyback. This repurchase responds to a proposal by Chairman Fu Baixian, aiming to safeguard shareholder interests, enhance investor confidence, and optimize the capital structure.
Shandong Hi-speed Co LtdCompany announces share buyback for cancellation with loan support, signaling confidence and boosting shareholder value.