for the first time in 23 years since its listing! kweichow moutai issued an announcement: repurchase and cancellation
2024-09-21
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on september 20, kweichow moutai issued an announcement that the company will use its own funds, no less than rmb 3 billion (inclusive) and no more than rmb 6 billion (inclusive) to repurchase and cancel shares, with the upper limit of the repurchase price being rmb 1,795.78 per share (inclusive), and the number of shares to be repurchased will be between 1,670,583 and 3,341,164 shares, accounting for 0.1330% to 0.2660% of the company's total share capital. the announcement also revealed that the controlling shareholder, actual controller, directors, supervisors and senior management have no plans to reduce their holdings of the company's shares in the next three months or the next six months.
it is reported that this is the first time that kweichow moutai has implemented a cancellation-style repurchase in its 23 years of listing. the announcement stated that the repurchase is aimed at safeguarding the interests of the company and the majority of investors and enhancing investor confidence. at the same time, after the implementation of this repurchase plan, it will not have a significant impact on the company's daily operations, finance, research and development, profitability, debt repayment ability, future development and maintenance of its listing status.
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unprecedented efforts to strengthen market value management! the first repurchase and cancellation in 23 years since listing, kweichow moutai sends a major positive signal with real money
source: kweichow moutai
editor: wang xiaoting
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