Chairman Peng Xuhui of Tianma Microelectronics (000050.SZ) proposed to buy back shares worth 150 million to 200 million yuan.

Tianma Microelectronics (000050.SZ) announced that the Chairman of the company, Peng Xuhui proposed that the company repurchase some of its shares through centralized bidding trading. The repurchased shares will be used to reduce the company's registered capital, optimize the capital structure, and the total amount of funds for the repurchase is expected to be between 150 million to 200 million RMB. The repurchase price will not exceed 150% of the average trading price of the company's stock for the 30 trading days prior to the resolution of the board of directors to repurchase shares.