The controlling shareholder of Obio Technology (688238.SH) proposed that the company repurchase shares worth 50 million to 100 million yuan.

Obio Technology (688238.SH) announced that on January 23, 2025, the company received a letter from Pan Odong, the controlling shareholder, actual controller, chairman, and general manager of the company, proposing the repurchase of company shares by Obio Technology Technology (Shanghai) Co., Ltd. Pan Odong proposed that the company repurchase some of its issued RMB ordinary shares (A shares) through the Shanghai Stock Exchange trading system via centralized competitive trading. The repurchased shares will be used at a suitable time in the future for equity incentives or employee stock ownership plans, as well as for maintaining the company's value and shareholder interests. The total amount of this repurchase is not less than RMB 50 million (inclusive) and not more than RMB 100 million (inclusive).