Jinhong Fashion Group Co., Ltd. announces an Equity Buyback for CNY 50 million worth of its shares.
November 25, 2020
Share
Jinhong Fashion Group Co., Ltd. (SHSE:603518) announces a share repurchase program. Under the program, the company will repurchase up to CNY 50 million worth of its shares. The share will be repurchased at a price of CNY 9.60 per share. The repurchased shares will be used to implement equity incentive and ESOP plans. The repurchase program will be valid for 6 months from the date of approval.
Jinhong Fashion Group Co.,Ltd., formerly VGRASS Fashion Co. Ltd., is principally engaged in the design, manufacture and distribution of branded lady's apparels. Through the operation of proprietary shops, the Company mainly deals with fashion lady's apparels under the brand named VGRASS. The Company provides apparels, including dresses, pants, coats, shirts, skirts, cotton coats, down garments and windbreakers, among others; knitted products, including sweater series products, as well as accessories, including bags, jewelries and scarf , among others. The Company is also engaged in manufacture and sales of handicrafts under the brand named Yunjin. Its products include handicrafts, fabrics, apparel and others.
JINHONG FASHION GROUP CO.,LTD. 
