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On the evening of September 7, 2023, Kaizhong Precision (002823. SZ) released an announcement on the progress and implementation completion of the buyback of the company's shares.
Shenzhen Kaizhong Precision Technology Co., Ltd. (hereinafter referred to as "the Company") held the 17th meeting of the 4th Board of Directors on April 24, 2023, and deliberated and passed the Proposal on Share Repurchase Scheme of the Company. The company plans to use its own funds of no less than 10 million yuan (including) and no more than 20 million yuan (including) to repurchase the company's shares in a centralized bidding transaction for equity incentive or employee stock ownership plan. The time limit for share repurchase is 12 months from the date when the board of directors of the company deliberates and approves the share repurchase plan.
As of September 6, 2023, the repurchase of the company has been completed. On April 27, 2023, the company implemented repurchase for the first time, and disclosed the repurchase progress as of the end of the previous month within the first three trading days of each month during the repurchase period according to relevant regulations.
As of September 6, 2023, the company has repurchased 2075498 shares of the company through the special securities account for share repurchase through centralized bidding, accounting for 0.72% of the company's current total capital stock. The highest transaction price is 10.39 yuan/share, the lowest transaction price is 9.01 yuan/share, and the total transaction amount is 19992098.54 yuan (excluding transaction costs).
The sales growth of the company's new products in hand and the improvement of the operating efficiency of the new project conversion to mass production. This repurchase reflects the management's affirmation of the company's intrinsic value and confidence in its future development, which is conducive to safeguarding the interests of the majority of shareholders. The shares repurchased this time are all used for equity incentive or employee stock ownership plan, which is conducive to improving team cohesion and core competitiveness, and promoting high-quality and sustainable development of the company.
The source of funds, total amount of funds used, repurchase method, repurchase price, number of shares to be repurchased, and implementation period of share repurchase of the Company are not different from the repurchase plan approved by the Board of Directors of the Company. The actual repurchase amount of the company has reached the lower limit of the total amount of repurchase funds in the repurchase plan, and does not exceed the upper limit of the total amount of repurchase funds. The repurchase is in line with the company's established repurchase plan and relevant laws and regulations.
The company has repurchased 2075498 shares accumulatively this time, of which 1204819 shares have been transferred to the special account of "Shenzhen Kaizhong Precision Technology Co., Ltd. - Employee Stock Ownership Plan of 2023" opened by the company in the form of non transaction transfer on June 21, 2023, and the remaining 870679 shares have been deposited in the special securities account for repurchase of the company. The company will launch equity incentive or employee stock ownership plan in due time according to the actual situation, and then perform the obligation of information disclosure in a timely manner according to the regulations. Please pay attention to the investment risks.
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