The announcement from Xianglou New Materials stated that the company plans to repurchase some of its shares using its own or self-raised funds through centralized bidding trading. The repurchased shares will be used to reduce the company's registered capital or to implement stock-based incentives. The total amount of funds intended for repurchase shall be no less than 50 million yuan but no more than 0.1 billion yuan (inclusive).
翔楼新材：拟5000万元-1亿元回购公司股份
Xianglou New Materials: intends to buy back company shares for 50 million to 0.1 billion yuan.
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