According to CTOnews.com news on December 6, BYD issued an announcement today that Wang Chuanfu, the actual controller, chairman and president of the company, proposed to buy back the company's shares at 200 million yuan, and the upper limit of the repurchase price should not be higher than 150% of the company's stock trading average price in the 30 trading days before the company's board of directors deliberated and adopted the repurchase plan.
CTOnews.com learned from the announcement that the repurchase of shares is funded by the company's own funds. Wang Chuanfu has no plans to increase or reduce his stake in the company during the buyback period. If there is a subsequent plan to increase or reduce its holdings, it will cooperate with the company to fulfill its information disclosure obligations in time in accordance with the requirements of laws, regulations and normative documents.
The repurchased shares will be used for employee stock ownership plan, equity incentive plan or reduction of registered capital, and the specific use will be determined by the company's board of directors in accordance with relevant laws and regulations.
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