Shifeng Cultural Development Co., Ltd. commences an Equity Buyback Plan, for CNY 36 million worth of its shares, under the authorization approved on December 31, 2020.
January 08, 2021 at 11:00 am
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Shifeng Cultural Development Co., Ltd. (SZSE:002862) commences share repurchases on January 8, 2021, under the program mandated by the shareholders in the Extraordinary General Meeting held on December 31, 2020. As per the mandate, the company is authorized to repurchase up to CNY 36 million worth of its shares. The shares will be repurchased at a price of not more than CNY 20 million. The program will be funded out of the company's own funds. The repurchased shares will be used for equity incentive plans or employee stock ownership plans. The program will be valid till 12 months from the date when the shareholders' meeting approves the share repurchase plan.
Shifeng Cultural Development Co Ltd is a China-based company mainly engaged in the research and development, design, manufacture and sales of various toys. The Company's main products include electric remote controlled toys, baby toys, car model toys, animation game derivative toys and other toys. The Company is also engaged in toy trading business and game business. The Company distributes its products within domestic market and to overseas markets.
Shifeng Cultural Development Co., Ltd. commences an Equity Buyback Plan, for CNY 36 million worth of its shares, under the authorization approved on December 31, 2020.
SHIFENG CULTURAL DEVELOPMENT CO., LTD. 
