Zhejiang Dayuan Pumps Industry Co., Ltd commence an Equity Buyback Plan for CNY 50 million worth of its shares, under the authorization approved on November 15, 2023.

Zhejiang Dayuan Pumps Industry Co., Ltd (SHSE:603757) commences share repurchases on November 24, 2023, under the program mandated by the shareholders in the Extraordinary General Meeting held on November 15, 2023. As per the mandate, the company is authorized to repurchase to repurchase CNY 50 million worth of its common shares. The shares will be repurchased at a price of not more than CNY 32 per share.

The purpose of repurchase program is to reduce company?s registered capital. The repurchased shares will be cancelled. The program will be funded out of the company's own funds.

The program will be valid till 12 months from the date of approval by shareholders.