Hefei Jingsong Intelligent Technology Co.,Ltd. commences an Equity Buyback Plan for CNY 20 million worth of its shares, under the authorization approved on September 15, 2023.

Hefei Jingsong Intelligent Technology Co.,Ltd. (SHSE:688251) commences a share repurchases in the fourth quarter of 2023, under the program mandated by the shareholders in the Extraordinary General Meeting held on September 15, 2023. As per the mandate, the company is authorized to repurchase up to CNY 20 million worth of its shares. The shares will be repurchased at a price not more than CNY 40 per share.

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