China Oil HBP Science & Technology Co., Ltd (SZSE:002554) commences share repurchases on April 16, 2024, under the program mandated by the shareholders in the Extraordinary General Meeting held on March 26, 2024. As per the mandate, the company is authorized to repurchase up to CNY 50 million worth of its shares. The repurchase price will not more than CNY 3.95 per Share.

The repurchased shares will be used to reduce the company?s registered capital. The repurchases will be funded using company's own funds. The repurchase period will be not more than 12 months.