Shenzhen VMAX New Energy (688612.SH) plans to repurchase shares worth 50 million to 100 million yuan, with a repurchase price not exceeding 35 yuan per share.

Shenzhen VMAX New Energy (688612.SH) announced that the company plans to repurchase a portion of its issued Renminbi common shares (A shares) through the Shanghai Stock Exchange trading system in a centralized bidding trading method with the over-raised funds. The repurchased shares will be used for employee stock ownership plans or equity incentives, as well as to reduce the registered capital. The repurchase amount will not be less than RMB 50 million and not more than RMB 100 million. The repurchase price will not exceed RMB 35 per share. The repurchase period will be within 12 months from the date of approval of the repurchase plan by the shareholders' meeting.