Gelonghui, Feb. 4: Lionghui (605358.SH) announced that on February 4, 2024, the board of directors of the company received a “Letter on Proposing Hangzhou Leon Microelectronics Co., Ltd. to repurchase the company's shares” from Mr. Wang Minwen, the company's actual controller and chairman. Mr. Wang Minwen proposed that the company use its own funds to repurchase some RMB common stock (A shares) shares already issued by the company through centralized bidding transactions through the Shanghai Stock Exchange trading system.
Based on his confidence in the company's future development and recognition of the company's value, Mr. Wang Minwen, proposed that the company use its own funds to repurchase some of the company's issued RMB common shares (A shares) through centralized bidding transactions through the Shanghai Stock Exchange trading system, and to reduce registered capital in the future, in order to effectively protect the interests of all shareholders and enhance public investors' confidence in the company's business situation and financial situation.
The repurchase price of shares is no more than 30 yuan/share. The total repurchase capital shall not be less than RMB 60 million (inclusive) and not more than RMB 120 million (inclusive).