Guangdong Fenghua Advanced Technology (Holding) Co., Ltd. (SZSE:000636) announces a share repurchase program. Under the program, the company will repurchase CNY 300 million worth of its shares. The shares will be repurchased at a price no more than 150% of the company's stock trading average price (about 26.98 yuan/share) in the 30 trading days prior to the resolution of the board of directors to repurchase shares. The repurchases will be funded from own funds. The repurchased shares will be used to implement the company's equity incentive plan and/or employee stock ownership plan, and the unused portion during the statutory period, the company will perform relevant procedures to cancel and reduce the registered capital. The program is valid for 12 months.

On June 28, 2023, the company announced that in view of the fact that the company's 2022 mid-term and annual profit distribution plan has been implemented, the company's upper limit for repurchasing shares has been adjusted from CNY 26.98 per share to CNY 26.77 per share, effective from June 21, 2023.