Huaqin Co., Ltd. (03296) plans to repurchase 1.5 billion to 2 billion A shares.

Huaqin Co., Ltd. (03296) announced that, based on its firm confidence in the future development prospects of the company and a high recognition of the long-term value of the company, in order to protect the interests of investors, especially small and medium-sized investors, enhance investor confidence, and further improve the company's long-term incentive mechanism, motivate the management team, core backbone and outstanding employees, enhance team cohesion and competitiveness, effectively combine the interests of shareholders, the company and the core team members, jointly create greater value for the long-term development of the company, and bring sustainable and stable returns to shareholders, the company plans to use its own funds to repurchase a portion of the RMB ordinary shares (A shares) already issued in China through centralized bidding trading for the implementation of an employee stock ownership plan or equity incentive. The repurchase price shall not exceed RMB 100 per share (inclusive), and the total amount of funds for repurchase shall be no less than RMB 150 million (inclusive) and no more than RMB 200 million (inclusive).