Guangdong Hongda announced that Chairman Gao Hongqing has proposed the company repurchase shares through centralized bidding for use in equity incentives or employee stock ownership plans. The total buyback amount will be no less than 50 million yuan and no more than 100 million yuan, funded by the company's own capital or self-raised funds. The maximum repurchase price will not exceed 150 percent of the average stock trading price over the 30 trading days prior to the board's approval of the buyback plan.
Guangdong HongDa Blasting Co LtdChairman proposes share buyback of 50-100 million yuan for equity incentives, signaling confidence and supporting share price.