Jiangfeng Electronics has made an announcement stating that it has received a proposal from its controlling shareholder, who is also the actual controller and Chief Technology Officer, Yao Lijun. The proposal suggests that the company should repurchase its own shares via centralized bidding transactions. The funds for this repurchase will come from the company's own reserves and self-raised capital, with the total amount earmarked for the buyback ranging from RMB 50 million to RMB 100 million. The repurchased shares are intended to be used for the implementation of employee shareholding schemes or equity incentive plans.
