Hangzhou Jingye Intelligent Technology Co., Ltd. (SHSE:688290) commences share repurchases on January 19, 2024, under the program mandated by shareholders in the Extraordinary General Meeting held on January 5, 2024. As per the mandate, the company is authorized to repurchase up to CNY 30 million worth of its shares. The shares will be repurchased at no more than CNY 60 per share.

The purpose of the program is to further improve the company's long-term incentive mechanism and benefit-sharing mechanism, enhance team cohesion and corporate competitiveness, and promote the company's healthy and sustainable development, after comprehensive consideration Based on the company's financial status and future profitability. The company will use the repurchased shares for employee stock ownership plans or equity incentives. If the company fails to use the shares for said purpose within 3 years of the completion of repurchase, the remaining shares will be cancelled in accordance with the law.

The program will be funded from company's own funds. The authorization will be valid for 12 months.