Suzhou HYC Technology Co.,Ltd. announces an Equity Buyback for CNY 40 million worth of its shares.
February 06, 2024
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Suzhou HYC Technology Co.,Ltd. (SHSE:688001) announces a share repurchase program. Under the program, the company will repurchase up to CNY 40 million worth of its shares. The company will repurchase CNY 20 million of its shares to be used for employee stock ownership plans or equity incentives and CNY 20 million of its shares for maintaining the company's value and shareholders' rights and interests. The shares will be repurchased at a price no more than CNY 43 per share. The program will be funded from company's own funds. The program will be valid for a period of 12 months for the purpose of repurchasing shares for employee stock ownership plans or equity incentives and for 3 months for the purpose of repurchasing shares for maintaining the company's value and shareholders' rights and interests.
On June 13, 2024, the company announced that it has adjusted the purchase price per share to CNY 42.83 per share, effective from June 20, 2024.
Suzhou HYC Technology Co Ltd is a China-based provider of industrial automatic inspection equipment and complete line inspection system solutions. The Company is principally engaged in the research and development, production and sales of flat panel displays, semiconductor integrated circuits, and wearable testing equipment. The Company's main products include testing equipment, including flat panel display testing equipment, integrated circuit testing equipment and automotive electronic testing equipment, as well as inspection fixtures. The Company's main products are used in Liquid Crystal Display (LCD) and Organic Light-Emitting Diode (OLED) flat panel displays, integrated circuits and automotive electronics. The Company mainly conducts its businesses in domestic and overseas markets.