BYD recently announced that it plans to use the company’s own funds to repurchase shares for 400 million RMB for cancellation to reduce registered capital. The repurchase price will not exceed 270 RMB/share.
The announcement shows that under the condition that the share repurchase price does not exceed RMB 270 per share, based on a repurchase amount of RMB 400 million, the number of shares to be repurchased is expected to be no less than 1,481,481 shares, accounting for approximately 0.05 of the company’s current total issued share capital. %, the specific number of shares repurchased shall be based on the actual number of shares repurchased when the repurchase period expires. The repurchased shares will be used for cancellation to reduce the registered capital.
BYD said:
Based on the confidence in the prospects of the new energy industry and the company’s future development under the national “double carbon” goal, as well as the recognition of the company’s value, in order to safeguard the interests of all shareholders of the company, enhance investor confidence, stabilize and enhance the company’s value, the company plans to implement buybacks Shares are used for cancellation to reduce registered capital. This share repurchase fully takes into account the company’s operations, finance, research and development, debt performance capabilities and future development. The company’s management believes that this share repurchase will not have any impact on the company’s operations, finance, research and development, debt performance capabilities and future development. significant adverse effects.
According to previous reports, BYD Wang Chuanfu proposed on December 6, 2023 that the company repurchase some of the company’s A shares through centralized bidding transactions. The total amount of funds to repurchase the shares is RMB 200 million.
The announcement in February this year showed that based on the confidence in the prospects of the new energy industry and the company’s future development under the national “double carbon” goal, as well as the recognition of the company’s value, in order to better safeguard the interests of all shareholders of the company, enhance investor confidence, stabilize and To enhance the company’s value, Wang Chuanfu proposed to increase the repurchase amount from RMB 200 million to RMB 400 million and use it to reduce registered capital.
