According to the Zhitong Finance App, Haixing Electric Power (603556.SH) announced that the company previously planned to repurchase shares for 150 million yuan to 300 million yuan. In order to improve the efficiency of capital use and use relevant policy tools to support the repurchases of listed companies, the company applied for a stock repurchase loan from China Merchants Bank Co., Ltd. Hangzhou Branch and recently obtained a “Loan Commitment Letter” issued by the bank. The promised loan amount: no more than 270 million yuan (this amount does not exceed 90% of the maximum amount of the total repurchase capital), and the loan period: no more than 36 months.

Disclaimer:Webull uses external vendor Google Translation Service for news translations where we endeavour to ensure these are correct, however, we recommend that you please double-check this information accordingly. Webull is not responsible for translation errors or issues.