Zhenhai Petrochemical Engineering CO., LTD announces an Equity Buyback for CNY 60 million worth of its shares.
December 29, 2020
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Zhenhai Petrochemical Engineering CO., LTD (SHSE:603637) announces a share repurchase program. Under the program, the company will repurchase up to CNY 60 million worth of its class A shares. The shares will be repurchased at a price not more than CNY 12 per share. The program will be funded out of the company's own funds. The repurchased shares will be used for employee stock ownership plan or equity incentive plan, The program is valid till 12 months from the date of approval of the program.
Zhenhai Petrochemical Engineering CO., LTD is a China-based company and mainly engaged in engineering general contracting business, engineering design and engineering consulting business of refinery chemical plant. Project general contracting is project survey, design, procurement, construction, commissioning and the whole process or part of stages of the contract in accordance with the contract agreement entrusted by the owner. The engineering design includes a variety of design and consulting services during the early stages of the project and the project implementation phase. The company also operates other business such as engineering supervision business, cost consulting business and anti-corrosion derusting business. The Company operates its businesses primary in domestic market.
ZHENHAI PETROCHEMICAL ENGINEERING CO., LTD 
