Core Viewpoint - Suzhou Tianmai Thermal Conductivity Technology Co., Ltd. has released a "Share Buyback Management System" to regulate share buyback activities, aiming to protect the legal rights of investors and the company [1] Group 1: Buyback Applicable Situations - The company’s share buyback is primarily applicable for reducing registered capital, employee stock ownership plans, converting convertible bonds into shares, and necessary actions to maintain company value and shareholder rights [2] - Conditions for maintaining company value include the stock closing price being below the latest net asset value per share or a cumulative decline of 20% over 20 consecutive trading days [2] Group 2: Strict Basic Requirements for Buyback - The company must meet conditions such as being listed for at least six months and having no major legal violations in the past year [3] - Buyback methods include centralized bidding, tender offers, and other methods recognized by the China Securities Regulatory Commission [3] - The total shares held after buyback must not exceed 10% of the total issued shares, and shares must be transferred or canceled within three years after the buyback announcement [3] - The company must reasonably arrange the number and scale of buybacks, with clear upper and lower limits on the total amount, and specify the implementation period [3] Group 3: Implementation Procedures and Information Disclosure - Proposals for share buybacks can be made by eligible proposers to the board, which must evaluate and announce the decision promptly [4] - The buyback plan requires approval from the shareholders' meeting or board, with different procedures based on the situation [4] - Once disclosed, the buyback plan cannot be changed or terminated without valid reasons, and the company must timely disclose buyback reports and results [4] - Shares bought back must be canceled or transferred according to regulations, and specific shares can be sold after a designated period while adhering to disclosure requirements [4] - The improvement of the buyback management system by Suzhou Tianmai is expected to standardize buyback behavior, safeguard legal rights, and promote sustainable development [4]
苏州天脉导热科技股份有限公司规范回购股份,完善管理制度