Midea Group announces share repurchase plan for stock incentives

Midea Group has announced a plan to repurchase company A-shares through centralized bidding, with the intention of using the repurchased shares for equity incentives and employee stock ownership. The total repurchase amount will range between CNY 1.5 billion and CNY 3 billion, sourced from the company’s own funds or through self-raised capital. The repurchase price is capped at CNY 100 per share. At that price, the company expects to repurchase at least 30,000,000 shares, or about 0.39% of its current total share capital, at the high end of the purchase plan and 15,000,000 at the low end.