Hi-Trend Technology Co., Ltd. commences an Equity Buyback for CNY 80 million worth of its shares, under the authorization approved on February 26, 2024.

Hi-Trend Technology (Shanghai) Co., Ltd. (SHSE:688391) commences share repurchases on March 26, 2024, under the program mandated by the shareholders in the Extraordinary General Meeting held on February 26, 2024. As per the mandate, the company is authorized to repurchase its A shares for a total of CNY 80 million. The shares will be purchased at a price not exceeding CNY 60 per share.

The repurchased shares will be cancelled thereby reducing the registered capital. The program will be funded from company's excess funds. The program will be valid for 12 months from the date of the shareholder's meeting.