CATL announces share repurchase plan for employee incentives

Contemporary Amperex Technology (SZSE:300750) announced its plan to repurchase company shares to implement an equity incentive or employee stock ownership plan. The repurchase will be funded with either the company's own funds or self-raised funds. The total repurchase amount will range from CNY4 billion to CNY8 billion. The repurchase price is capped at CNY392.32 per share, no more than 150% of the average trading price in the 30 trading days before the board's resolution. Assuming the maximum repurchase amount and price, the company will repurchase approximately 20,391,517 shares, or 0.46% of its current total share capital. Assuming the minimum repurchase amount and maximum price, the company would repurchase approximately 10,195,759 shares, or 0.23% of its current total share capital. The repurchase period will be within 12 months of the board's approval date. The board of directors approved this plan, and the company's supervisors have no objections. The company has already opened a special securities account for the repurchase.