Taichenguang Plans 60-100 Million Yuan Share Buyback at Up to 120 Yuan/Share

The signal here is proportion, not size: a buyback covering well under half a percent of share capital is modest, and its designation for equity incentives rather than cancellation means the shares may return to the market as compensation over time. The 120 yuan ceiling is the more telling figure, framing management's own reference point for valuation. Whether the program is executed in full within its 12-month window, and at what pace relative to that cap, is the open question worth watching.