GEM launches share repurchase plan

GEM Co., Ltd. (SZSE:002340) has commenced its previously announced share repurchase program, buying back 7,150,000 shares on February 25, 2025. These shares represent 0.14% of the company's current total share capital. The highest transaction price was ¥7.01 per share, and the lowest was ¥6.92 per share. The total transaction amount was ¥49,797,500 (excluding transaction fees). The company will use its own funds and special loans for stock repurchase to buy back shares. The repurchased shares will be used for equity incentives or employee stock ownership plans, and cancellation to reduce registered capital. The repurchase complies with relevant laws and regulations and the company's established repurchase plan. GEM will continue the repurchase plan subject to market conditions and regulatory requirements.