Chairman Dong Zengping of Sieyuan Electric (002028.SZ) proposed to spend 300 million to 500 million yuan to repurchase shares.

Sieyuan Electric (002028.SZ) announced that the chairman of the company, Dong Zengping, proposed that the company repurchase some of its publicly held shares using its own funds, in order to cancel and reduce the company's registered capital, thereby increasing earnings per share and enhancing the company's long-term value. The total amount of funds for the repurchase shall not be less than 300 million yuan, nor higher than 500 million yuan, and the repurchase price shall not exceed 150% of the average trading price of the company's stock in the 30 trading days before the approval of the repurchase plan by the board of directors.