NARI Tech announces up to CNY 1bn share buyback

NARI Technology (SSE:600406) announced a plan to repurchase its A-shares through centralized bidding, with a total repurchase amount ranging from CNY 500 million to CNY 1 billion. The repurchased shares will be used for a future equity incentive plan. The repurchase price will not exceed CNY 34.13 per share. The repurchase period will span no more than 12 months, starting from April 14, 2025, and ending on April 13, 2026. The company intends to use its own funds for the repurchase. NARI Tech's controlling shareholder, NARI Group, plans to transfer its holdings to State Grid Electric Power Research Institute. NARI Technology's executives do not have any intentions for stock disposal.