Lingyi iTech chairman proposes share repurchase plan

Lingyi iTech (SZSE:002600) announced that its chairman, Zeng Fangqin, proposed a share repurchase plan on April 8, 2025. Zeng, who directly and indirectly controls 61.13% of the company's shares, believes the repurchase will promote stable development and safeguard shareholder interests. The proposed repurchase will involve A-shares, utilizing the company's own funds or other legally permissible sources. The total repurchase amount will range from CNY 50 million to CNY 100 million. The repurchase price will not exceed 150% of the average share price in the 30 trading days prior to the board resolution. The company intends to use the repurchased shares for reducing registered capital, equity incentives, or employee stock ownership plans. The repurchase plan is subject to board approval.