Panwei Network intends to repurchase shares and the controlling shareholder plans to increase its holdings of the company’s shares_Oriental Fortune Network

On the evening of May 4th,pan-micro networkreleaseannouncementBased on the confidence in the company’s future development prospects and high recognition of the company’s value, combined with the company’s operating conditions, main business development prospects, the company’s financial status and future profitability, the company plans to use its own funds.repoCompany shares are used to implement the company’s equity incentives to further establish and improve the company’s long-term incentive mechanism and benefit-sharing mechanism, fully mobilize the enthusiasm of the company’s employees, attract and retain outstanding talents, enhance corporate cohesion and core competitiveness, and promote the company’s health sustainable development.

The company stated that the repurchased shares will be used for equity incentives at appropriate times in the future. If the repurchased shares are not used up within 36 months after the completion of the share repurchase, the unused repurchased shares will be cancelled.

The announcement shows that the total amount of funds to be repurchased this time shall not be less than RMB 120 million, not more than RMB 200 million, and the repurchase price shall not exceed RMB 60 per share. Within 6 months from the date of May 5, 2022 to November 4, 2022.

On the same day, the company also received company holdingsshareholderMr. Wei Lidong’s “Notification Letter on Planning to Increase Shares of the Company”, Mr. Wei Lidong plans to increase the company’s shares with his own funds at a price not exceeding 60 yuan/share, and the increase amount is not less than 30 million yuan and not more than 5,000 yuan million.

(Article source: ShanghaisecuritiesNewspaper Chinasecuritiesnetwork)

Article source: Shanghai Securities News China Securities Network

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Original title: Panwei Network intends to repurchase shares and the controlling shareholder plans to increase its holdings of the company’s shares