Hunan Province-based Chinese steelmaker Hunan Valin Iron & Steel Co. (Hunan Valin Steel) has announced that it plans to buy back shares worth RMB 200-400 million ($28-56 million), while the sources of the funds for the purchase will be its own funds or self-financing, with the repurchase price not exceeding RMB 5.8 per share ($0.8/share). All the repurchased shares will be canceled, which will reduce the company’s registered capital.
Valin Steel also told investors on its interactive platform that the company has a good credit standing and has smooth financing channels. The company's financing costs are expected to continue to remain low in 2025.