Beijing Jiaxun Feihong Electrical Co., Ltd. commences an Equity Buyback Plan for CNY 50 million worth of its shares, under the authorization approved on August 24, 2022.

Beijing Jiaxun Feihong Electrical Co., Ltd. (SZSE:300213) commences share repurchases on September 19, 2022, under the program mandated by the shareholders in the Extraordinary General Meeting held on August 24, 2022. As per the mandate, the company is authorized to repurchase not more than CNY 50 million worth of its shares. The shares will be purchased at a price not exceeding CNY 8 per share.

The repurchased shares will be used to implement employee stock ownership plan or equity incentive plan. The repurchases will be funded using the company's own funds. The program will be valid for 12 months from the date when the share repurchase scheme is approved by the general meeting of shareholders.