Xin Nuo Fei began to buy back 9 million 900 thousand shares, worth more than 1 billion 800 million yuan

Signify, a global lighting leader, yesterday announced the start of the stock repurchase program, buying back up to 230 million euros (about 1 billion 837 million yuan) of its own shares to reduce its capital.

The plan is in line with Xin Nuo Fei's July 27, 2018 announcement and will be implemented in July 30, 2018. It is expected to be completed by the end of 2018. According to the current stock price calculation, the repo plan total about 9 million 900 thousand shares, accounting for 7.2% of the company's issued equity. Xin nofly intends to write off the repo stock.

The repurchase plan will be carried out by the intermediate agency to allow stock repurchases during the opening and closing of the market, and within the scope of the authority granted by the annual shareholders meeting of May 15, 2018.

Previously, Xin Nuo announced the two quarter of this year's earnings, the company realized sales of 1 billion 537 million euros (about RMB 12 billion 195 million yuan), down 9.5% from the same period last year, and net income was 29 million euros (RMB 230 million yuan), down 60% from the same period last year. In the first half of 2018, the company achieved a total of 3 billion 38 million euros (RMB 24 billion 104 million yuan), a year-on-year reduction of 10.4%, and a net income of 49 million euros (about RMB 389 million yuan), and a year-on-year decline of 63.2%. (Editor: LED network James)

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