Tiannai Technology (688116.SH) plans to repurchase the company's shares for 100 million yuan to 200 million yuan

Zhitong Finance App News, Tiannai Technology (688116.SH) announced that the company plans to use its own funds and special stock repurchase loans to repurchase some shares through centralized bidding transactions. The share repurchase amount: not less than RMB 100 million (inclusive) and no more than RMB 200 million (inclusive). The repurchase price of shares shall not exceed RMB 57.21 per share (inclusive).

The purpose of this share repurchase: to maintain the company's value and shareholders' rights, employee stock ownership plans, or equity incentives. Among them, the repurchase amount used for employee stock ownership plans or equity incentives is not less than RMB 20 million (inclusive) and not more than RMB 40 million (inclusive); the repurchase amount to protect the company's value and shareholders' rights is not less than RMB 80 million (inclusive) and not more than RMB 160 million (inclusive). According to requirements, the repurchased shares are sold through centralized bidding 12 months after disclosing the results of the repurchase and share change announcements, and the relevant review and disclosure obligations are carried out in accordance with the requirements of the “Repurchase Rules” and “Regulatory Guidelines”. If the company fails to use the relevant shares for the above purposes within 3 years after the share repurchase implementation results and share change announcement, the relevant repurchased shares will be cancelled.