Guangdong Hongda Chairman Gao Hongqing has proposed that the company buy back part of its A-shares for 50 million to 100 million yuan, to be used for equity incentives or an employee stock ownership plan. The buyback will be conducted through centralized bidding, with funds coming from the company's own capital or self-raised funds. Gao Hongqing said the move is based on confidence in the company's future sustainable development, aiming to boost investor confidence and stabilize the company's value. The company's stock closed at 27.93 yuan on July 30, down more than 41 percent this year.
Guangdong HongDa Blasting Co LtdChairman proposes share buyback of 50-100 million yuan, signaling confidence and supporting stock price.