V-Test(SH:688372) Zheng Quan Shi Bao Wang·2024-10-20 17:48Core Viewpoint - The company, COSCO Shipping Specialized Carriers Co., Ltd., announced a share buyback plan by its indirect controlling shareholder, China COSCO Shipping Group Co., Ltd., to enhance investor confidence and company value [1][3]. Group 1: Buyback Plan Details - The buyback will be executed by China COSCO Shipping Co., Ltd., a wholly-owned subsidiary of China COSCO Shipping Group, through centralized bidding on the Shanghai Stock Exchange [1]. - The total amount for the buyback plan is set between RMB 144 million and RMB 288 million, with no specified price range for the shares [1][2]. - The buyback plan will be implemented within six months from the announcement date, considering market fluctuations and funding arrangements [1]. Group 2: Funding and Commitment - The funding for the buyback will come from a special loan provided by Bank of China Shanghai Branch, with a maximum amount of RMB 288 million, alongside the subsidiary's own funds [2]. - The buyback entity has committed not to reduce its shareholding during the implementation period of the buyback plan [3]. Group 3: Regulatory Compliance - The company will adhere to relevant regulations, including the Securities Law of the People's Republic of China and the Shanghai Stock Exchange's rules, ensuring timely disclosure of the buyback plan's implementation [3].