Ningde era: proposed to buy back shares of $20 billion to $40 billion for write-off

ON 24 JULY, THE NINGDE ERA (300,750.SZ) ANNOUNCED THAT THE COMPANY INTENDED TO BUY BACK SHARES IN COMPANY A USING ITS OWN OR SELF-FINANCING AS A CENTRALIZED COMPETITIVE TRADE, WITH A TOTAL OF NOT LESS THAN $20 BILLION AND NOT EXCEEDING $40 BILLION AND A MAXIMUM OF $573/EQUITY. REPURCHASES OF SHARES WILL BE USED TO CANCEL AND REDUCE THE COMPANY ' S REGISTERED CAPITAL AND WILL TAKE PLACE WITHIN 12 MONTHS OF THE DATE OF ADOPTION BY THE SHAREHOLDERS ' MEETING。