Qingdao Novelbeam Technology (688677.SH) plans to repurchase shares worth 50 million to 100 million yuan.

Qingdao Novelbeam Technology (688677.SH) announced that the company plans to repurchase shares worth 50 million to 100 million yuan, with the repurchase price not exceeding 59 yuan per share. The repurchased shares will be used for implementing an employee stock ownership plan or equity incentive. If the company fails to use the repurchased shares within 36 months after completion of the repurchase, the unused repurchased shares will be cancelled. The funds for this share repurchase will come from the company's own funds and a special stock repurchase loan. The company has obtained a "Loan Commitment Letter" from China Merchants Bank Co., Ltd. Qingdao Branch, agreeing to provide special loan support for the company's share repurchase, with a maximum loan amount not exceeding 90 million yuan. The specific loan terms will be based on the loan contract signed between both parties.