Huafu Fashion Co.Ltd(002042) ( Huafu Fashion Co.Ltd(002042) ) announced on March 21 that the company plans to use its own funds to repurchase the issued RMB common shares (A shares) in the form of centralized bidding transaction, and the repurchased shares will be used for the company’s subsequent employee stock ownership plan or equity incentive. The total repurchase amount shall not be less than 50 million yuan and not more than 100 million yuan, and the repurchase price shall not exceed 6.50 yuan / share. The implementation period of share repurchase shall not exceed 12 months from the date when the board of directors deliberates and approves the share repurchase plan.
The announcement shows that according to the calculation of the lower limit of 50 million yuan of total repurchase funds and the upper limit of 6.50 yuan / share of share repurchase price, the number of shares repurchased is expected to be about 7692307 million shares, accounting for about 0.45% of the current total share capital of the company; According to the calculation of the maximum repurchase amount of 100 million yuan and the maximum repurchase price of 6.50 yuan / share, the number of repurchased shares is expected to be about 15384614 shares, accounting for about 0.90% of the current total share capital of the company. As of September 30, 2021, the total assets of the company were 18.138 billion yuan, and the net assets attributable to listed shareholders were 7.181 billion yuan. From January to September, 2021, the company realized a total operating income of 12.715 billion yuan and a net profit attributable to listed shareholders of 4453298 million yuan. If the upper limit of 100 million yuan of total repurchase funds is used up, according to the financial data on September 30, 2021, the proportion of repurchase funds in the total assets of the company is about 0.55%, and the proportion of net assets attributable to listed shareholders is about 1.39%.
Huafu Fashion Co.Ltd(002042) said that based on the confidence in the company’s future development prospects, based on the company’s long-term sustainable development and value growth, enhance investors’ investment confidence in the company, safeguard the interests of the majority of investors, and combined with the company’s development strategy, operation and financial situation, the company repurchased the company’s shares with its own funds as the share source for the implementation of employee stock ownership plan or equity incentive in the later stage.
