Grand Industrial Holding Co., Ltd. commences an Equity Buyback Plan for CNY 60 million worth of its shares, under the authorization approved on April 22, 2022.

Grand Industrial Holding Co., Ltd. (SZSE:000626) commences a share repurchases on May 5, 2022, under the program mandated by the shareholders in the Extraordinary General Meeting held on April 22, 2022. As per the mandate, the company is authorized to repurchase up to CNY 60 million worth of its shares. The shares will be repurchased at a price of CNY 15 per share.

The repurchased shares will be be used for the employee stock ownership plan or for equity incentives. The company will repurchase its shares with its own funds. The authorization will be valid for a period of 6 months.