Hangzhou Kaierda Welding Robot Co.,Ltd. commences an Equity Buyback Plan for CNY 60 million worth of its shares, under the authorization approved on September 19, 2023.

Hangzhou Kaierda Welding Robot Co.,Ltd. (SHSE:688255) commences a share repurchases on October 10, 2023, under the program mandated by the shareholders in the Extraordinary General Meeting held on September 19, 2023. As per the mandate, the company is authorized to repurchase up to CNY 60 million worth of its shares. The shares will be repurchased at a price not more than CNY 42 per share.

The repurchased shares will be used for employee stock ownership plans or equity incentives. The authorization will be valid for a period of 12 months from the date of approval.