Core Viewpoint - Dalian Demais Precision Technology Co., Ltd. has released a "Share Buyback Management System" to regulate its share buyback activities and protect the legal rights of investors and the company [1] Summary by Sections Buyback Circumstances and Conditions - The company will conduct share buybacks primarily for reasons such as reducing registered capital, employee stock ownership or equity incentives, convertible bond share conversions, and maintaining company value and shareholder rights [2] - Specific conditions for buybacks include the company's stock closing price being lower than the latest net asset value per share, or a cumulative decline of 20% over 20 consecutive trading days [2] - Additional requirements include the stock being listed for at least six months, no major legal violations in the past year, and the company maintaining debt repayment and ongoing operational capabilities [2] Buyback Methods and Funding Sources - Buyback methods include centralized bidding, tender offers, and other methods recognized by the China Securities Regulatory Commission [3] - Different handling methods apply based on the reason for the buyback; for instance, shares bought back for capital reduction must be canceled within ten days [3] - The company can use various legal funding sources for buybacks, including self-owned funds, funds raised from issuing preferred stocks and bonds, and excess raised funds [3] Implementation Procedures and Information Disclosure - Proposals for share buybacks can be made by eligible proposers to the board of directors, which must review and announce the proposal promptly [4] - The company must develop a detailed buyback plan, which requires approval from the shareholders' meeting or board of directors, covering purposes, methods, price ranges, and funding sources [4] - During the buyback period, the company is required to disclose progress in a timely manner, and upon completion, must announce the results [4] - If shares are to be canceled post-buyback, the company must notify creditors and complete necessary procedures [4]
大连德迈仕发布回购股份管理制度 规范回购行为保障各方权益