Xianhe Shares Controller, Two Directors Plan Up to 100 Million Yuan in Share Purchases

Xianhe Co. said on July 21 that its controlling shareholder and director Wang Minwen, together with Wang Minliang, plan to buy more of the company's A-shares over the next six months through centralized bidding on the Shanghai Stock Exchange, according to Jiemian News. Wang Minwen plans to invest 30 million yuan to 50 million yuan, while Wang Minliang plans to invest 30 million yuan to 50 million yuan, for a combined purchase of no less than 60 million yuan and no more than 100 million yuan. The company said there will be no price range for the purchases and that the funds will come from their own money or self-raised capital. Based on the closing price of 18.56 yuan per share on July 17, the planned purchases would amount to about 3.23 million to 5.39 million shares, or 0.42% to 0.70% of total share capital. Wang Minwen and Wang Minliang also pledged not to sell their holdings during the execution period of the plan and within the statutory lockup period.