Chairman of Shanghai Yongmaotai Automotive Technology (605208.SH) proposed to repurchase company shares worth 150 million to 300 million yuan.
Yongmaotai (605208.SH) announced that on July 31, 2026, the company's board of directors received a letter from Mr. Xu Hong, the company's chairman, majority shareholder, and one of the actual controllers, regarding the proposal to repurchase the company's shares. Mr. Xu proposed that the company use its own funds and self-raised funds to repurchase a portion of the issued ordinary shares (A shares) through the centralized bidding trading method on the Shanghai Stock Exchange. The total amount allocated for the share repurchase is between 150 million yuan and 300 million yuan, and the repurchase price shall not exceed 150% of the average trading price of the company's stock over the 30 trading days prior to the board's approval of the repurchase plan resolution.
Shanghai Yongmaotai Automotive Technology (605208.SH) announced that on July 31, 2026, the companys board of directors received a letter from Mr. Xu Hong, the companys chairman, controlling shareholder, and one of the actual controllers, regarding the proposal to repurchase the companys shares. Mr. Xu proposed that the company use its own funds and self-raised funds to repurchase a portion of the issued ordinary shares (A shares) through centralized bidding on the Shanghai Stock Exchange trading system. The total amount of funds for the repurchase is between 150 million RMB and 300 million RMB, with the repurchase price not exceeding 150% of the average trading price of the companys stock over the 30 trading days prior to the board's approval of the repurchase plan.
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