Tongxing Technology announced plans to repurchase a portion of its ordinary A-shares through centralized bidding using its own funds or self-raised funds, for use in employee stock ownership plans or equity incentives. The total repurchase amount will be no less than 60 million yuan and no more than 120 million yuan, with a repurchase price not exceeding 57.01 yuan per share. The repurchase period is within 12 months from the date the board of directors approves the plan. Based on the upper limits of the repurchase price and amount, the estimated number of shares to be repurchased ranges from 1,052,400 to 2,104,700 shares, accounting for approximately 0.62 percent to 1.24 percent of the company's total share capital. If the repurchased shares are not used for the above purposes within three years after the disclosure of the repurchase results and share change announcement, the untransferred portion will be cancelled in accordance with the law. As of March 31, 2026, the company's total assets, total equity attributable to shareholders of the listed company, and total current assets were approximately 1.97 billion yuan, 1.354 billion yuan, and 1.406 billion yuan, respectively. Based on the upper limit of the repurchase funds of 120 million yuan, the repurchase funds account for 6.09 percent, 8.86 percent, and 8.54 percent of the above three indicators, respectively. After the repurchase is completed, the company's shareholding structure will not undergo significant changes, and there will be no change in control or impact on its listing status.
Zhejiang Tongxing Technology Co. Ltd. ACompany plans to buy back shares worth 60-120 million yuan for employee incentives, signaling confidence and supporting stock price.