Zhejiang Longsheng (600352): The Total Cost Of Stock Repurchase Is 681 Million Yuan.

Zhejiang Longsheng (600352) announced in the evening of May 29th that the company had completed the buyback according to the disclosed plan. As of May 29, 2019, the company had accumulated 70 million and 100 shares of the company's share repurchase, accounting for 2.15% of the total share capital of the company, and the highest price of the paction was 10.95 yuan / share. The lowest price was 9.18 yuan / share, and the paction amount was 681 million yuan (excluding commission fees, pfer fees and other paction costs).

According to the announcement, Zhejiang Longsheng plans to repurchase the company's shares by means of centralized auction, with its own or self raised funds. The total amount of the repurchase is no less than 500 million yuan, and not more than 1 billion yuan, and the repurchase price is not more than 13.4 yuan / share (inclusive).

The actual implementation of the repurchase scheme is not different from the original disclosure of the buyback plan. The share repurchase shares will be used for the implementation of the employee stock ownership plan or equity incentive within three years from the date of the announcement. The repurchase shares can not be used for ESOP or equity incentive, and the shares repurchased by the company will be cancelled in accordance with the law.

Zhejiang Long Sheng said that the repurchase will not have a significant impact on the company's operation, finance and future development, and will not affect the listing status of the company.