Shanghai Orient-Chip Technology (688061.SH) plans to repurchase shares worth 20 million to 40 million yuan.

Shanghai Orient-Chip Technology (688061.SH) announced that the company plans to repurchase shares in the amount of 20 million to 40 million yuan, at a price not exceeding 44.95 yuan per share, for use in employee stock ownership plans or equity incentives. The source of funds for the share repurchase will come from the company's own funds and a special repurchase loan. The special repurchase loan will be provided by CITIC BANK Shanghai Branch, with a maximum amount of 36 million yuan. The company has obtained a commitment letter from CITIC BANK Shanghai Branch regarding the special repurchase loan project for Shanghai Orient-Chip Technology Co., Ltd.