Xiamen Jihong Technology Co., Ltd. (SZSE:002803) announces a share repurchase program. Under the program, the company will repurchase up to CNY 100 million worth of its shares. The shares will be purchased at a price not exceeding CNY 18.20 per share. The purpose of the program is to improve the company's long-term incentive mechanism, fully mobilize the enthusiasm of the employees, and jointly promote the company's long-term development. The repurchased shares will be used for employee stock ownership plans, equity incentive plans or conversion of convertible corporate bonds, otherwise will be cancelled if the company fails to transfer them within the time limit stipulated by relevant laws and regulations. The program will be funded from company's own funds or self-raised funds. The program will be valid for 12 months. The company had 384,849,288 shares outstanding.
Effective December 17, 2024, the company has adjusted its share repurchase price to CNY 18.02 per share.
On May 21, 2025, the company announced that it has adjusted its repurchase price from CNY 18.02 per share to CNY 17.86 per share. The adjustment will be effective from May 22, 2025.
Xiamen Jihong Co Ltd is a China-based company mainly engaged in the cross-border social e-commerce business and paper fast-moving consumer goods (FMCG) packaging business. The Company operates primarily through three segments. The Cross-border Social E-commerce Operation segment mainly places advertisements on social media platforms to attract customers, and provides products such as household products, apparel products, electronic products, footwear products, luggage and bag products, cosmetic and personal care products, healthcare products, maternity and baby products, and watches and accessories. The Paper Packaging Operation segment is committed to providing one-stop paper packaging products and services to FMCG enterprise customers, focusing on providing marketing strategies, product design, process design, technology planning, transportation and logistics. The Other Operations segment mainly includes marketing and advertising business and incidental trading business.
