Suncha Technology Co., Ltd. (SZSE:001211) commences share repurchases on February 22, 2024, under the program mandated by the shareholders in the Extraordinary General Meeting held on February 22, 2024. As per the mandate, the company is authorized to repurchase to repurchase CNY 20 million worth of its shares. The shares will be repurchased at a price not more than CNY 12.50 per share.

The repurchased share will be used for employee stock ownership plan and equity incentives. The company plans to use its own funds or self-raised funds to repurchase its shares. The program will be valid for a period of 3 months.