On May 20, Jingao Technology (securities code: 002459) 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 300 million yuan and a maximum repurchase price of 36 yuan per share. The repurchase period will not exceed 12 months. The shares to be bought back this time will be used for employee stock ownership plan or equity incentive plan.
It is understood that the type of shares to be repurchased this time is a shares. The total amount of shares to be repurchased is not less than RMB 200 million (inclusive) and not more than RMB 300 million (inclusive). Under the condition that the repurchase price is not more than RMB 36 / share (inclusive), if the total amount of shares to be repurchased is calculated according to the upper limit of the total amount of repurchase and the upper limit of the price of shares to be repurchased, it is estimated that the number of shares to be repurchased is about 8333333, and the proportion of shares to be repurchased accounts for about 0.52% of the total 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, in order to further establish and improve the company’s long-term incentive mechanism, attract and retain excellent talents, fully mobilize the enthusiasm of the company’s managers and key personnel, and promote the company’s stable, healthy and sustainable development, the company plans to use its own funds to repurchase part of its shares for the employee stock ownership plan or equity incentive plan.
As of March 31, 2021, the company’s unaudited financial data are as follows: the total assets of the company is 4092266500 yuan, the net assets attributable to the shareholders of the listed company is 14804192700 yuan, the monetary fund balance is 8510344000 yuan, and the undistributed profit is 4072659800 yuan. Assuming that the upper limit of the total amount of the repurchase fund is 300 million yuan, the proportion of the repurchase fund in the total assets of the company and the net assets belonging to the shareholders of the listed company is 0.73% and 2.03% respectively. The business development of the company is good and the cash flow of operating activities is healthy. This share repurchase will not have a significant impact on the company’s operation, finance, R & D, debt fulfillment ability and future development. This share repurchase is used for employee stock ownership plan or equity incentive plan, which is conducive to further establish and improve the company’s long-term incentive mechanism, fully mobilize the enthusiasm of the company’s managers and key personnel, and promote the company’s stable, healthy and sustainable development. After the completion of the repurchase, there will be no significant change in the company’s equity structure, nor will it change the company’s status as a listed company.
Based on the vertical integration mode of photovoltaic industry chain, Jingao technology has long been committed to providing photovoltaic power generation system solutions for global customers. Its main business is the R & D, production and sales of solar silicon wafers, batteries and modules, as well as the development, construction and operation of solar photovoltaic power stations.