TGOOD Chairman Proposes Up To 600 Million Yuan Share Buyback

TGOOD said on July 27 that its controlling shareholder and chairman, Yu Dexiang, has proposed the company buy back part of its A shares using its own funds or self-raised capital through centralized bidding on the Shenzhen Stock Exchange. According to Jiemian News, the proposed buyback amount is no less than 300 million yuan and no more than 600 million yuan. The price cap would not exceed 150% of the company’s average share price over the 30 trading days before the board approves the buyback plan. The repurchased shares would later be used for equity incentives or an employee stock ownership plan.