Hangzhou Tigermed Consulting Co., Ltd (SZSE:300347) commences share repurchase on May 23, 2024, under the program mandated by shareholders in the Extraordinary General Meeting held on April 30, 2024. Under the program, the company will repurchase up to CNY 1,000 million worth of class A shares. The shares will be repurchased at a maximum price of CNY 72 per share.

The purpose of the program is to promote the healthy and stable long-term development of the company, to enhance investors? confidence in the company and to protect the interests of general investors, and at the same time, to further establish and improve the company?s long-term incentive mechanism, based on the recognition of the Company?s development prospects and intrinsic value. The program will be funded by self-owned funds or self-raised funds.

The shares will be used to implement the A share equity incentive scheme or A share employee stock ownership plan; or will be cancelled. The number of shares used for stock option incentives shall not exceed 60% of the total repurchase amount, and the number of shares used for cancellation to reduce registered capital shall not be less than 40% of the total repurchase amount. The program is valid for 12 months from the date on which the General Meeting company approves the plan.