Shenzhen Pacific Union Precision Manufacturing Co., Ltd. announces an Equity Buyback for CNY 60 million worth of its shares.
May 10, 2023
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Shenzhen Pacific Union Precision Manufacturing Co., Ltd. (SHSE:688210) announces a share repurchase program. Under the program, the company will repurchase up to CNY 60 million worth of its shares. The shares will be repurchased at a price not more than CNY 41.87 per share. Shares will be repurchased using self-raised funds of the company. Shares repurchased will be used for employee stock ownership plans or equity incentives. The program will be valid for 12 months.
On June 1, 2023, the company announced that after the 2022 profit distribution, the company adjusted the maximum repurchase price from not more than CNY 41.87 per share to not more than CNY 29.72 per share.
Shenzhen Pacific Union Precision Manufacturing Co Ltd is a China-based company producing precision parts and components. The Company focuses on providing metal injection molding (MIM) metal parts, mainly divided into precision metal structural parts and appearance parts. The Company is also engaged in mold and fixture production. The Company's products include power support, volume support, camera support, threading sleeve, plug and other structural parts, as well as exquisite power interface parts, smart watch case, smart ring inner case, unmanned aerial vehicle remote control shaft support, headset accessories and other external parts. The Company's products are mainly used in the field of portable intelligent terminal consumer electronics such as tablet computers and intelligent touch capacitive pens, as well as emerging consumer electronics such as intelligent wearable devices and aerial photography unmanned aerial vehicles.