Hangzhou Raycloud Technology Co., Ltd. (SHSE:688365) announces a share repurchase program. Under the program, the company will repurchase not more than CNY 40 million worth of its A shares. The shares will be repurchased at a price of not more than CNY 20 per share.

The company will fund its purchases from self-raised funds. The repurchased shares will be used for ESOP or equity incentives. The plan will be valid for 12 months.