On March 6th, it was reported by various media outlets that BYD intends to repurchase company shares amounting to 4 billion CNY.
The repurchase price will not exceed RMB 270 per share, with an expected repurchase quantity of not less than 1,481,481 shares, accounting for approximately 0.05% of the company's current total issued shares.
BYD official statement indicates that this buyback is driven by confidence in the future prospects of the new energy industry under the national "dual carbon" goals, as well as recognition of the company's value.
In order to safeguard the interests of all shareholders, boost investor confidence, and stabilize and enhance the company's value, the company plans to implement the share repurchase to be used for cancellation, thereby reducing registered capital.
Simultaneously, the share repurchase takes into full consideration the company's operations, finances, research and development, debt servicing capabilities, and future development prospects. The company's management believes that this share repurchase will not have a significant adverse impact on the company.
