Deye Proposes Up to 200 Million Yuan Share Buyback

Deye Co. said on September 8 that it received a proposal from its controlling shareholder and chairman, Zhang Hejun, to buy back part of the company's issued A shares using its own funds through centralized bidding on the Shanghai Stock Exchange. The proposed buyback would total no less than 100 million yuan and no more than 200 million yuan, and all repurchased shares would be used for an employee stock ownership plan or equity incentives, according to Jiemian News. The buyback period would run for up to 12 months from the date the board approves the plan.