The controlling shareholder of Kengic Intelligent Technology (688455.SH) has proposed a share buyback of 150 million to 300 million yuan.

Kengic Intelligent Technology (688455.SH) announced that the company's actual controller, Chairman and General Manager Long Jinjun proposed to repurchase a portion of the company's shares through centralized bidding trading, in order to cancel and reduce the company's registered capital. The total amount of the repurchase funds shall not be less than RMB 150 million (inclusive) and not exceeding RMB 300 million (inclusive). The upper limit of the repurchase share price shall not exceed 150% of the average trading price of the company's stock for the 30 trading days prior to the date when the board of directors approved the repurchase plan.