Hangzhou Lion Microelectronics (605358.SH) controlling shareholder proposed that the company repurchase shares worth 40 to 50 million yuan.

Hangzhou Lion Microelectronics (605358.SH) announced that the Board of Directors received a proposal from the company's actual controller and chairman, Mr. Wang Minwen, on September 18, 2024, regarding the repurchase of the company's shares. Mr. Wang Minwen proposed that the company use its own funds to repurchase a portion of the company's RMB-denominated ordinary shares (A shares) through the Shanghai Stock Exchange trading system via centralized bidding trading, with a total repurchase amount not less than RMB 40 million, and not more than RMB 50 million. The repurchased shares are intended to be used for implementing an employee stock ownership plan or equity incentives.