Beijing United Information Technology Co.,Ltd. announces an Equity Buyback for CNY 400 million worth of its shares.
December 20, 2022 at 04:50 am EST
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Beijing United Information Technology Co.,Ltd. (SHSE:603613) announces a share repurchase program. Under the program, the company will repurchase up to CNY 400 million worth of its shares. The shares will be repurchased at a price not more than CNY 100 per share. Repurchases will be funded by the company's own or self-raised funds. The repurchased shares will be used for employee stock ownership plans or equity incentives. The plan will be valid for 12 months.
On June 13, 2023, the company announced that after the 2022 profit distribution, the company adjusted the maximum repurchase price from not more than CNY 100 per share to not more than CNY 68.88 per share starting from June 20, 2023, onwards.
Beijing United Information Technology Co Ltd is a China-based company principally engaged in the business-to-business (B2B) e-commerce and industrial Internet platform business. The Company operates four segments. The Online Commodity Trading segment is mainly engaged in raw material industrial e-commerce business, third-party e-commerce, and provides cloud enterprise resource planning (ERP), electronic contracts, online payments, smart logistics, digital factories, industrial Internet and other software as a service (SaaS) business. The Business Information Services segment mainly provides business information, marketing and promotion services, exhibitions, industry information and data products, and advertising services. The Internet Technology Services segment mainly provides digital cloud application services and digital supply chain, digital factory and industrial Internet platform services. The Company also operates the Other segment.