Summary
[Torch Electronics: The total amount of the company’s shares to be repurchased shall not be less than 30 million yuan]Torch Electronics (SH 603678) announced on the evening of March 18 that the company intends to conduct share repurchase through the Shanghai Stock Exchange trading system through centralized bidding transactions. . The shares repurchased this time are planned to be used for the implementation of the employee stock ownership plan; the price of the shares repurchased in 2022 shall not exceed RMB 75 per share (inclusive). (Daily Economic News)
Torch Electronics(SH 603678, closing price: 52.37 yuan) released on the evening of March 18announcementsaid that the company intends to pass the ShanghaisecuritiesThe exchange trading system conducts shares in a centralized bidding transactionrepo. The shares repurchased this time are intended to be used for the implementation of the employee stock ownership plan; the price of the repurchased shares in 2022 shall not exceed RMB 75 per share (inclusive), and the upper limit of the price shall not be higher than the 30 previous shares repurchased by the board of directors 150% of the average trading price of the company’s stock on the trading day. The repurchase period shall not exceed 12 months from the date when the company’s board of directors considers and approves the share repurchase plan; the source of funds for this repurchase is the company’s own funds, with a total amount of not less than 30 million yuan and not more than 50 million yuan.
From January to December 2020,Torch ElectronicsofOperating incomeThe composition is as follows: trade business accounted for 67.61%, self-produced components accounted for 29.13%, and self-produced new materials accounted for 1.34%.
Torch ElectronicsThe chairman of the board is Cai Mingtong, male, 70 years old, with a high school education background; the general manager is Cai Jinjun, male, 44 years old, with a master’s degree background.
(Article source: Daily Economic News)