Yonyou Network raises share repurchase price ceiling

Yonyou Network Technology (SSE: 600588) announced that it will increase the upper limit of its share repurchase price from RMB 13 to RMB 23 per share. The decision, approved by the board of directors, aims to enhance shareholder value and confidence in the company's future prospects. The adjusted price represents a 150% premium over the average share price in the 30 trading days leading up to the board meeting. The company plans to fund the repurchase through a combination of its own funds and bank loans, and intends to use the repurchased shares for employee stock ownership or equity incentive plans. The total repurchase amount will remain between RMB 50 million and RMB 100 million.