On May 20, Shanghai Xinyang (securities code: 300236) recently announced that the company will buy back the company’s shares in the form of centralized competitive trading, with a maximum repurchase amount of 80 million yuan and a maximum repurchase price of 40 yuan per share. The repurchase period will not exceed 12 months. The shares bought back this time will be used for the subsequent implementation of the employee stock ownership plan.
It is understood that the type of shares to be repurchased this time is A-share issued by the company, the amount of this repurchase is not less than RMB 40 million yuan and not more than RMB 80 million yuan (including this number), and the price of shares to be repurchased is not more than RMB 40 yuan / share (including 40 yuan). According to the upper limit of repurchase fund of 80 million yuan and the upper limit of repurchase price of 40 yuan / share, it is estimated that the number of shares to be repurchased is 2 million shares, accounting for about 0.64% of the total issued share capital of the company. The specific number of shares to be repurchased shall be subject to the number of shares actually repurchased at the expiration of the repurchase period.
For the purpose of this repurchase, Shanghai Xinyang, based on its confidence in the future development, in order to effectively safeguard the interests of investors, enhance their confidence and further improve the company’s long-term incentive mechanism, the company decided to buy back the company’s shares through centralized bidding as the stock source of the company’s later ESOP.
As of December 31, 2020, the total assets of the company are 6090345839.28 yuan, and the net assets attributable to the shareholders of the listed company are 4729516068.89 yuan. According to the upper limit of 80 million yuan, the repurchase funds account for 1.31% and 1.69% of the above indicators respectively. Considering the company’s operation, finance and other factors, the upper limit of 80 million yuan share repurchase will not have a significant impact on the company’s operation, finance and future development.
As of December 31, 2020, the asset liability ratio of the company is 22.09%, and the monetary capital is 237766314.26 yuan, of which the monetary capital of the parent company is 141961652.59 yuan. The capital source of this share repurchase is the company’s own capital, which will not have a significant impact on the company’s solvency. The repurchase of shares will not damage the company’s ability to fulfill its debts and continue to operate.
According to the company’s current operating and financial situation, combined with the company’s profitability and development prospects, the company believes that the repurchase of shares will not adversely affect the company’s sustainable operation, profitability, finance, R & D and debt performance; After the implementation of this share repurchase, the controlling shareholder and actual controller of the company will not change, and the company’s status as a listed company will not be changed. The equity distribution still meets the conditions for listing.
According to the data of digbei.com, the main business of Shanghai Xinyang is divided into two categories. One is the R & D, production, sales and service of key process materials and supporting equipment for integrated circuit manufacturing and advanced packaging, and provides integrated solutions for customers. The other is the R & D, production and related service business of environmental friendly and functional coatings, and provides customers with professional overall coating business solutions.