Kinwong Electronic (03228.HK) Chairman Proposes Share Repurchase of RMB 50 Million to RMB 100 Million of A-Shares

Zhitong Finance APP News, Kinwong Electronic (03228.HK) announced that, based on confidence in the company's sustainable future development and recognition of the company's value, in order to enhance investor confidence, safeguard the interests of the broad investor base, and further establish and improve the company's long-term incentive mechanism, fully mobilize employee enthusiasm, and in light of the company's current operating conditions, business development prospects, financial condition, and future capital use plans, Mr. Liu Shaobai, Chairman of the company, proposed that the company repurchase part of its shares through centralized bidding transactions. The repurchase amount shall be no less than RMB 50 million and no more than RMB 100 million. The repurchased shares will be used in due course in the future for equity incentives and/or employee stock ownership plans.