Lens Technology announces share repurchase plan up to CNY 1bn

Lens Technology announced a plan to repurchase its A-shares using its own or self-raised funds through centralized bidding. The total repurchase amount will be between CNY 500 million and CNY 1 billion. Based on a maximum repurchase price of CNY 35 per share, the company estimates it could repurchase between 14,285,714 and 28,571,429 shares, representing approximately 0.29% to 0.57% of the current total share capital. The repurchase period will last for up to 12 months from the date the board of directors approves the plan. The company intends to use the repurchased shares for employee stock ownership or equity incentive plans, with any unused shares after 36 months subject to cancellation. The Board of Directors has been authorized to handle matters relating to share repurchases.