Shanxi Huhua Group Co., Ltd. announces an Equity Buyback for CNY 30 million worth of its shares.
February 05, 2024 at 11:00 am EST
Share
Shanxi Huhua Group Co., Ltd. (SZSE:003002) announces a share repurchase program. Under the program, the company will repurchase up to CNY 30 million worth of its shares. The repurchase price shall not exceed CNY 20 per share. Repurchases will be funded using the company?s own funds. The repurchased shares will be used to implement equity incentives. The implementation period for share repurchase is not more than 12 months. As of February 5, 2024, the company had 200,000,000 shares outstanding.
On April 2, 2024, the company announced a change in purpose of the repurchase program. The repurchased shares under the program will be used for equity incentives or employee stock ownership plans.
Shanxi Huhua Group Co Ltd is a China-based company mainly engaged in the research and development, production and sales of various types of civil explosives. The Company also provides customers with specific engineering blasting solutions and blasting services. The Company's main products are industrial explosives, industrial detonators, industrial cables and other initiating equipment. Its products are used in mining, metallurgy, transportation, water conservancy, power, construction and petroleum fields. The Company is also engaged in digital electronic detonator chip design research and development and consumer electronics product design services. The Company conducts its businesses within the domestic market and to overseas markets.
SHANXI HUHUA GROUP CO., LTD. 
