Hengyi Petrochemical (000703.SZ) plans to spend 500 million to 1 billion yuan to implement a buyback.

Hengyi Petrochemical (000703.SZ) disclosed a plan to repurchase shares through centralized competitive trading (the sixth phase). The company intends to repurchase shares for the implementation of an employee shareholding plan or equity incentive. The total amount of funds for this repurchase of shares is not less than 500 million yuan and not more than 1 billion yuan. The price for this repurchase of shares shall not exceed 15.00 yuan per share. The repurchase period shall not exceed 12 months from the date of approval by the board of directors of this repurchase plan.