On the evening of April 16th, Guofeng Technology announced that Mr. Li Yi, the actual controller, chairman, and general manager of the company, proposed to the board of directors to repurchase company shares again using excess funds and internal resources. The total amount of funds for the share repurchase will not exceed 30 million CNY and will not be less than 20 million CNY.
The announcement reveals that the chairman's proposal for another share repurchase is primarily based on a firm confidence in the company's operating conditions and future prospects, as well as a high recognition of the company's value. In the future, the repurchased shares will be used for employee stock ownership plans or equity incentives at appropriate times, aiming to enhance the enthusiasm and combat effectiveness of the company's core team members, promote healthy and sustainable development, align the interests and share the benefits of all shareholders, and enhance the overall value of the company.
It is noteworthy that this is the second share repurchase proposed by the chairman since January 2024. Previously, the company had repurchased a total of 3.3517 million shares through centralized bidding transactions, with a total repurchase amount of nearly 60 million CNY. The repurchase plan was completed on April 15th.
Guofeng Technology had previously disclosed its performance report, stating that in 2023, the company achieved operating income of 2.217 billion CNY; operating profit of 34.679 million CNY, a year-on-year increase of 159.06%; total profit increased by 46.38% year-on-year; net profit attributable to the parent company reached 102 million CNY; and the overall gross profit margin reached 36.23%.
In addition, GoFung Optics' automotive optical business has secured multiple high-quality OEM designations, with the landmark launch of the designated vehicle model Wanjie M9 in December 2023. Official reports indicate that within three months of its release, the cumulative sales of the Wanjie M9 have exceeded 70,000 units. This sales milestone sets a new record for luxury car sales velocity, garnering increased attention for GoFung Optics as the core component supplier for its projection mega-screens.
