Sugon Chairman Proposes RMB 300M-500M Share Buyback

The signal here is less the size of the buyback than its proposed destination: shares earmarked for employee equity incentives or a shareholding plan tie the chairman's capital commitment to retention and alignment rather than to a pure price-support gesture. The 150% ceiling on the 30-day average sets a built-in cap on how aggressively the program can be executed if the stock runs. Whether the board approves the proposal on the stated terms, and how much of the authorized range is actually deployed within the 12-month window, is the open question worth watching.