Befar Group Co.Ltd(601678) 3 announced on March 25 that the company plans to buy back the company’s shares by means of centralized bidding transaction. The share repurchase price is no more than 10 yuan / share, and the total amount of funds for share repurchase is no less than 50 million yuan and no more than 100 million yuan. The repurchase period is 12 months from the date when the plan for share repurchase is considered and approved at this board meeting. The source of repurchase funds is the company’s own funds.
The company said that based on its confidence in the company’s sustainable and stable development in the future and recognition of the company’s value, combined with the company’s operating conditions, financial conditions and other factors, in order to promote the matching of the company’s share price with its internal value, the company plans to buy back some of the company’s shares for the employee stock ownership plan.
The announcement shows that according to the upper limit of repurchase amount of 100 million yuan and the upper limit of repurchase price of 10.00 yuan / share, the number of shares repurchased is expected to be about 10 million shares, accounting for about 0.49% of the total issued share capital of the company. As of September 30, 2021, the total assets of the company were 16.608 billion yuan, the net assets attributable to the shareholders of the listed company were 9.838 billion yuan, the asset liability ratio was 40.28%, and the balance of monetary funds was 2.096 billion yuan. The net profit attributable to the shareholders of the listed company from January to September 2021 was 1.41 billion yuan. According to the upper limit of repurchase amount of 100 million yuan, the proportion of repurchase amount in the company’s total assets, net assets and monetary funds is 0.60%, 1.02% and 4.77% respectively.
