---
title: "LINGSTEEL: The chairman proposed to repurchase shares worth 50 million to 100 million yuan"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/235814042.md"
description: "Chairman of LINGSTEEL Zhang Peng proposed to repurchase shares worth between 50 million to 100 million yuan, with the repurchase method being centralized bidding transactions. The upper limit of the repurchase price is 150% of the average price of A-shares over the 30 trading days prior to the board's approval. The funding source will be the company's own funds and self-raised funds, and the repurchased shares will be used for equity incentives and other legal purposes. The repurchase period is within 12 months from the date of the board's approval. Zhang Peng has not bought or sold company shares in the six months prior to the proposal and has no plans to increase or decrease holdings during the repurchase period"
datetime: "2025-04-14T07:47:23.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/235814042.md)
  - [en](https://longbridge.com/en/news/235814042.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/235814042.md)
generator: "portal-rs"
---

# LINGSTEEL: The chairman proposed to repurchase shares worth 50 million to 100 million yuan

LINGSTEEL announced that the company's chairman, Mr. Zhang Peng, proposed that the company repurchase a portion of its shares through centralized bidding. The total amount for the repurchase is between 50 million and 100 million yuan, with the repurchase price not exceeding 150% of the average trading price of the company's A-shares over the 30 trading days prior to the board's approval of the repurchase plan. The funds will come from the company's own funds and self-raised funds, and the repurchased shares are intended for purposes allowed by laws and regulations, such as implementing equity incentives. The repurchase period is within 12 months from the date the board approves the plan. Mr. Zhang Peng has not bought or sold the company's shares in the six months prior to the proposal and has no plans to increase or decrease holdings during the repurchase period. The company will formulate the repurchase plan as soon as possible and fulfill the review procedures and information disclosure obligations

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---
> **Disclaimer: This article is for reference only and does not constitute any investment advice.**