Lingyi iTech announces share repurchase plan of up to CNY400m

Lingyi iTech (Guangdong) Company has announced a share repurchase plan with a total funding amount ranging from CNY200 million to CNY400 million. The company will repurchase A-shares through centralized bidding, with a repurchase price not exceeding CNY13.18 per share. Based on the maximum repurchase amount and price, the company expects to repurchase approximately 30,349,013 shares, representing 0.43% of the current total share capital. The repurchased shares will be used for employee stock ownership plans or equity incentives. The repurchase period will last for 12 months from the date the board of directors approved the repurchase plan. The company has already established a dedicated repurchase securities account and secured a loan commitment of up to CNY360 million from the Industrial and Commercial Bank of China to support the repurchase. The Board of Directors believes the repurchase will not materially impact the company's operations, finances, or debt-servicing capabilities.