Several China-listed companies disclosed share buybacks on September 21, including CATL, the China-based battery maker.

It repurchased 3.6875 million A-shares that day for about 1.1 billion yuan (US$164 million) through the Shenzhen Stock Exchange. The shares will be canceled.

CATL had earlier won approval for an A-share buyback program worth 20 billion yuan (US$2.99 billion) to 40 billion yuan (US$5.97 billion).

The repurchased shares will be canceled to reduce the company’s registered capital.

Longsys, a China-based maker of embedded storage products, said it completed an 800 million yuan (US$119 million) buyback after purchasing 2.2906 million A-shares from September 8 to 18. The shares will be used for equity incentives or an employee stock ownership plan.

Efort Intelligent Equipment, a China-based industrial robot and automation company, said it plans to buy back 60 million yuan (US$8.96 million) to 100 million yuan (US$14.9 million) of shares.

The repurchased shares will be used for equity incentives or an employee stock ownership plan.

🔗 Source: Security Times

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