Suzhou HYC completes share repurchase program for employee incentives

Suzhou HYC Technology Co., Ltd. has completed its share repurchase program, acquiring a total of 1,439,317 shares, representing 0.32% of its total share capital. The repurchases were executed via centralized bidding transactions on the Shanghai Stock Exchange, with the highest price paid being RMB 34.78 per share and the lowest RMB 22.66 per share. The total expenditure for the repurchases amounted to RMB 40,288,431.55, excluding stamp duty and transaction commissions. The company's actual controlling shareholder, Mr. Chen Wenyuan, also increased his stake by 887,093 A-shares during the repurchase period.

The repurchased shares are intended for employee stock ownership plans or equity incentive schemes. These shares will be held in a dedicated securities account and will not be entitled to profit distribution, capital reserve transfers, new share subscriptions, or convertible bond subscriptions during this period. The company plans to utilize all repurchased shares for their intended purpose within three years from the announcement date.

The initial repurchase plan, approved on November 14, 2024, set a total repurchase amount between RMB 40 million and RMB 80 million. The program was carried out using the company's own funds and a special stock repurchase loan provided by Industrial and Commercial Bank of China. This initiative will not alter the company's controlling ownership or its listed status.