GEM announces progress in share repurchase program

GEM Co., Ltd. (SZSE:002340) announced progress in its share repurchase program, initiated with shareholder approval in January and February 2025. As of April 30, 2025, the company has repurchased 20,358,500 shares, representing 0.40% of the total share capital. The highest price paid per share was CNY 7.01, and the lowest was CNY 5.85. The total expenditure for the repurchase reached CNY 136,743,597, excluding transaction costs. The repurchase is funded through the company's own funds and dedicated stock repurchase loans. GEM intends to use the repurchased shares for equity incentives or employee stock ownership plans and to reduce registered capital. The company stated that the repurchase activities comply with relevant regulations and its previously disclosed repurchase plan. GEM will continue to implement the repurchase program within the approved timeframe, disclosing progress as required by law.