Yonyou Network completes share buyback program for employee incentives

Yonyou Network Technology Co. Ltd. announced the completion of its share repurchase program, which commenced on September 27, 2024. The company repurchased a total of 4,144,090 shares, representing 0.121% of its total share capital, at a total cost of RMB 50,062,199. The repurchase price ranged from RMB 9.87 to RMB 18.44 per share. This initiative aligns with the company's objective to utilize repurchased shares for employee stock ownership plans or equity incentives.

The repurchased shares will be held in a dedicated securities account and are intended for future employee incentive programs. Any unutilized repurchased shares will be cancelled within 36 months of the program's completion. During the holding period, these shares will not be entitled to profit distribution, capitalisation from provident funds, new share issuance, or voting rights.

The company's total share capital after the repurchase and the cancellation of 1,523,950 restricted shares on September 25, 2024, stands at 3,416,997,409 shares. This repurchase was funded by Yonyou Network's own funds and bank-specific repurchase loans, with no material impact on the company's operations, profitability, or financial health.