The actual controller of Tianyue Advanced (688234.SH) proposed to buy back the company's A shares for 50 million yuan to 80 million yuan

Zhitong Finance App News, Tianyue Advanced (688234.SH) issued an announcement. Zong Yanmin, the controlling shareholder, actual controller, chairman and general manager of the company proposed that the company use overraised capital or own funds obtained from the initial public offering of RMB common shares to buy back some of the company's issued RMB common shares (A shares) through centralized bidding transactions. The repurchased shares are intended to be used for the company's share incentives, employee stock ownership plans, or reduction of the company's registered capital. The total capital for repurchasing shares is not less than 50 million yuan (inclusive) and no more than 80 million yuan (inclusive).