Innovation New Material executes first share repurchase

Innovation New Material has announced the commencement of its share repurchase program, authorized earlier this year. The company repurchased 763,200 shares, representing 0.0186% of the total share capital, for a total cost of CNY 2,999,679 (excluding transaction costs). The highest price paid per share was CNY 3.94, while the lowest was CNY 3.93. The repurchase plan, approved by shareholders, aims to reduce registered capital. The company intends to repurchase shares within a price range not exceeding CNY 5.71 per share and is allocated a budget between CNY 10,000,000 and CNY 20,000,000 for the buyback program, which is expected to conclude by March 2026. Innovation New Material will continue to disclose further developments of the repurchase program as required.