Chairman of Lizhong Sitong Light Alloys Group (300428.SZ) proposes the company to spend 30 to 50 million yuan to repurchase shares.

Lizhong Sitong Light Alloys Group (300428.SZ) announcement: On September 7, 2023, the company's board of directors received a letter from Zang Yongxing, one of the company's actual controllers, chairman, and president, proposing to repurchase a portion of the company's issued Renminbi ordinary shares (A-shares) with its own funds, and to use the repurchased shares for employee stock ownership plans or stock incentives. The total amount of repurchase funds shall not be less than RMB 30 million (inclusive) and shall not exceed RMB 50 million (inclusive).