Chairman of Zhejiang Shuangyuan Technology (688623.SH) proposed to repurchase the company's shares for an amount of 50 to 80 million yuan.

Zhejiang Shuangyuan Technology (688623.SH) announced that the company's actual controller, chairman, and general manager Zheng Jian proposed to use the excess funds raised from the initial public offering of RMB ordinary shares through a centralized bidding trading method on the Shanghai Stock Exchange trading system to repurchase a portion of the company's issued RMB ordinary shares (A shares), and the repurchased shares will be used in the future when appropriate for an employee stock ownership plan or equity incentive. The total amount of the repurchase funds shall not be less than RMB 50 million (inclusive) and not exceed RMB 80 million (inclusive).