On March 15, Gansu Shangfeng Cement Co.Ltd(000672) announced that based on the confidence in the future development prospects of the company and the recognition of the company’s value, the company plans to buy back the company’s shares with its own funds of 200 million to 300 million yuan for the implementation of the employee stock ownership plan or equity incentive plan.
It is reported that the share repurchase price does not exceed 25 yuan / share (including). According to the calculation of the upper limit of share repurchase amount of 300 million yuan, if all shares are repurchased at the highest price, the number of shares that can be repurchased is expected to be 12 million, accounting for about 1.47% of the total share capital of the company.
Gansu Shangfeng Cement Co.Ltd(000672) said that the share repurchase is a pragmatic measure taken by the company to safeguard the interests of investors and enhance investor confidence in combination with financial status, operation, future profitability and development prospects. At the same time, repurchasing shares is conducive to improving the company’s long-term incentive mechanism, improving employee cohesion and company competitiveness, fully mobilizing the enthusiasm of the company’s senior managers and core backbone personnel, and helping the company’s long-term development.
Since its listing in 2013, Gansu Shangfeng Cement Co.Ltd(000672) has maintained good growth and development. The scale of assets and revenue has quadrupled compared with that before listing, and the compound annual growth rate of net profit has reached about 45%. In recent years, the unique advantages of “high efficiency + standardization” mechanism under the “one main and two wings” strategy have been further reflected. In addition to maintaining the leading performance and efficiency indicators in the main industry, The extension of the industrial chain of the auxiliary wing, the collaborative disposal of environmental protection business in cement kilns, equity investment in semiconductor and new energy and other fields, continuously enriched and optimized the overall asset quality, and helped the company maintain steady and sustainable growth. Recently, the company’s recent IPO review of Hefei jingheji science and Innovation Board was also approved recently. As the third largest wafer manufacturing enterprise in China, Hefei jingheji has developed rapidly, and its public offering and listing of shares is expected to significantly improve the company’s investment income.
