ST Wenfeng: The chairman proposed to repurchase shares worth 80-120 million yuan.

ST Wenfeng announced that the chairman of the company, Wang Yue, proposed on May 11 to repurchase the company's shares, with a repurchase fund of no less than 80 million yuan and not more than 120 million yuan, to be used for employee stock ownership plans or equity incentives. The repurchase price of the shares shall not exceed 150% of the average trading price of the company's stock for the 30 trading days before the board of directors approves the repurchase plan, with a term of 12 months from the date of approval by the board of directors. Wang Yue did not buy or sell any company shares in the six months prior to the proposal, and apart from the expiration of the employee stock ownership plan, there are no plans to increase or decrease holdings during the repurchase period. This matter still needs to go through the approval process and there is uncertainty.