Beijing Worldia Diamond Tools Co.,Ltd. announces an Equity Buyback for CNY 40 million worth of its shares.
May 11, 2023
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Beijing Worldia Diamond Tools Co.,Ltd. (SHSE:688028) announces a share repurchase program. Under the program, the company will repurchase up to CNY 40 million worth of its shares. The shares will be repurchased at a price no more than CNY 46.80 per share. Repurchases will be funded using company's self-owned funds. All the shares repurchased will be used for employee stock ownership and/or equity incentive plans. The program will be valid for 12 months.
On May 27, 2023, the company amended its share repurchase program. The shares will be repurchased at a price not exceeding CNY 33.21 per share.
Beijing Worldia Diamond Tools Co Ltd is a China-based company mainly engaged in the research and development, production and sales of cutting tools and superhard material products. The Company's main products include ultra-high-precision, high-precision ultra-hard tools, ultra-hard material products and precision automation professional equipment. Its products are mainly used in consumer electronics, automobile manufacturing, aerospace, rail transit, nuclear power, wind power, high-end medical devices, optoelectronic devices and other manufacturing fields. The Company mainly conducts its businesses in domestic and overseas markets.