Beijing Tongtech Co., Ltd. (SZSE:300379) commences share repurchases on January 31, 2024, under the program mandated by the shareholders in the Annual General Meeting held on January 29, 2024. As per the mandate, the company is authorized to repurchase up to CNY 120 million worth of its shares. The repurchase price will not be more than CNY 28 per share.

The repurchased shares will be used to implement employee stock ownership plans or equity incentives. The source of funds used to repurchase shares is company's own funds or self-raised funds. The program is valid for 12 months.

As of December 29, 2023, the company had 566,722,828 shares outstanding.