VEICHI(SH:688698) Zheng Quan Zhi Xing·2025-07-02 16:18Summary of Key Points Core Viewpoint - Suzhou Weichuang Electric Technology Co., Ltd. has announced a share buyback plan aimed at enhancing employee stock ownership and incentivizing staff, with a total buyback amount ranging from 20 million to 40 million yuan [1][2]. Buyback Plan Details - Initial disclosure date of the buyback plan: July 24, 2024 [1] - Buyback implementation period: July 24, 2024, to July 23, 2025 [1] - Estimated buyback amount: 20 million to 40 million yuan [1] - Maximum buyback price: 37.59 yuan per share [2] - Actual shares repurchased: 849,390 shares, accounting for 0.4018% of total share capital [3][4] - Actual buyback amount: 20,011,832.32 yuan [3] - Price range for actual buyback: 20.00 yuan to 35.83 yuan per share [3] Approval and Implementation - The buyback plan was approved during the 27th meeting of the second board of directors on July 23, 2024 [1]. - The buyback will utilize the company's own funds and is not expected to significantly impact its daily operations or financial status [4]. Adjustments to Buyback Price - The maximum buyback price was adjusted from 38.00 yuan to 37.86 yuan due to the implementation of the 2024 semi-annual profit distribution [2]. - Further adjustment to the maximum buyback price was made to 37.59 yuan following the 2024 annual profit distribution [2]. Shareholder Transactions - During the buyback period, certain shareholders, including the controlling shareholder and related parties, reduced their holdings by 6,306,820 shares, representing 2.98% of the total share capital [5]. Share Changes - Total shares before buyback: 211,375,274 shares [5]. - Total shares after buyback remain the same, with repurchased shares held in a special account without voting rights or profit distribution [5]. Future Plans for Repurchased Shares - The repurchased shares are intended for employee stock ownership plans or equity incentives. If not utilized within three years, the company will follow legal procedures to reduce registered capital and cancel the unused shares [5].