According to the Zhitong Finance App, Kang Long Huacheng (03759) announced that since the closing price of the company's A shares fell by more than 20% in 20 consecutive trading days as of April 19, 2024, necessary to protect the company's value and shareholders' rights and effectively promote the implementation of the “Double Improvement of Quality and Return” action plan, the company plans to use its own funds to repurchase some of the company's RMB common stock A shares through centralized bidding transactions.
The total capital of this repurchase is not less than RMB 200 million and no more than RMB 300 million (all inclusive), and the maximum repurchase price is not more than RMB 31 per share (inclusive). Based on the upper limit of the repurchase price and the upper and lower limit of the repurchase amount, the estimated number of shares to be repurchased is about 6.4516 million to 9.6774 million shares, accounting for 0.36% to 0.54% of the company's total issued share capital.
As of the disclosure date of this announcement, the company has not received plans to increase or decrease their holdings during the repurchase period and the next six months from directors, supervisors, senior managers, actual controllers and their co-actors, and shareholders holding 5% or more of the shares.