The controlling shareholder of Grand Kangxi Communication Technologies (688653.SH) has proposed to repurchase company shares with an amount between 20 million and 30 million RMB.
Kangxi Communication (688653.SH) announced that on June 13, 2026, the company's board of directors received a letter from Mr. Ping Peng, the actual controller, chairman, and general manager of the company, proposing the repurchase of the company's shares by Granite Kangxi Communication Technology (Shanghai) Co., Ltd. Mr. Ping Peng proposed that the company use its own funds to repurchase a portion of the RMB ordinary shares (A shares) already issued by the company through centralized bidding trading on the Shanghai Stock Exchange, with a total repurchase amount not less than 20 million yuan (inclusive) and not exceeding 30 million yuan (inclusive). The repurchased shares will be used in the future for an employee stock ownership plan or equity incentive plan at an appropriate time.
Grand Kangxi Communication Technologies (688653.SH) issued an announcement. The company's board of directors received a letter from Mr. Ping Peng, the actual controller, chairman, and general manager of the company, on June 13, 2026, proposing the repurchase of the company's shares by Grand Kangxi Communication Technologies (Shanghai) Co., Ltd.
Mr. Ping Peng proposed that the company use its own funds to repurchase a portion of the company's RMB ordinary shares (A shares) through the Shanghai Stock Exchange trading system in a centralized competitive bidding trading method. The total amount of funds for the repurchase shall not be less than 20 million yuan, and not exceed 30 million yuan. The repurchased shares will be used in the future at an appropriate time for an employee stock ownership plan or equity incentive plan.
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