Gelonghui, Feb. 27丨Xing Sen Technology (002436.SZ) announced that the company plans to buy back shares through centralized bidding transactions through the Shenzhen Stock Exchange trading system. The total capital for this share repurchase is not less than RMB 30 million (inclusive) and not more than RMB 50 million (inclusive). The repurchase price is no more than 16.84 yuan/share. Under the condition that the repurchase price does not exceed 16.84 yuan/share, the estimated number of shares that can be repurchased is about 2,969,121 shares, accounting for about 0.18% of the company's total issued share capital; based on the lower limit of the repurchase amount, the estimated number of shares that can be repurchased is about 1,781,473 shares, accounting for 0.11% of the company's total issued share capital. The specific number of shares to be repurchased is based on the actual number of shares repurchased at the end of the repurchase period. The repurchase period is 12 months from the date the board of directors reviews and approves the repurchase plan.
Repurchase some of the company's shares for subsequent equity incentives or employee stock ownership plans, and to convert bonds issued by the company that can be converted into shares to improve the company's long-term incentive and restraint mechanism, reduce the company's debt and financial pressure, enhance the company's overall value, and ensure the company's stability, health and sustainable development.