On October 29, Hua Hong Grace announced that its board received a proposal from Bai Peng, Chairman and President, to buy back company shares. Bai Peng proposed using own funds and/or self-raised funds to repurchase issued A-shares, with a total repurchase amount of no less than RMB 300 million and no more than RMB 500 million.
The repurchased shares will be used for cancellation, maintaining company value and shareholder rights, or future equity incentives and employee stock ownership plans at appropriate times. The repurchase price will be no higher than 150% of the average share price over the 30 trading days before the board approves the repurchase plan. Bai Peng did not trade company shares in the six months before the proposal and has no current plans to increase or decrease holdings during the repurchase period.
ICgoodFind Summary: Hua Hong Grace's chairman proposed a RMB 300–500 million buyback covering cancellation, market value maintenance, and equity incentives, signaling confidence in its own value during the wafer foundry expansion cycle. The plan still needs board approval, and the implementation pace is worth watching.
