GKCT's actual controller and chairman proposed to spend 20 million to 40 million yuan to repurchase shares

The actual controller and chairman of GKCT, PING PENG, proposed that the company repurchase a portion of its issued A-shares, with the repurchase amount between 20 million yuan and 40 million yuan. The upper limit of the repurchase price is 150% of the average price of the 30 trading days prior to the board's approval of the plan. The repurchase period is no more than 3 months from the date of the board's approval

According to the Zhitong Finance APP, GKCT (688653.SH) announced that the company's controlling shareholder, chairman, and general manager PING PENG proposed that the company use its own funds to repurchase a portion of its issued ordinary shares (A shares) through the centralized bidding trading method on the Shanghai Stock Exchange trading system. The total amount of funds for the repurchase shall not be less than RMB 20 million (inclusive) and shall not exceed RMB 40 million (inclusive). The upper limit of the repurchase price shall not exceed 150% of the average trading price of the company's shares over the 30 trading days prior to the board of directors' approval of the repurchase plan resolution. The repurchase period shall not exceed 3 months from the date of the board of directors' approval of the final repurchase plan