GEM announces progress in share repurchase program

GEM Co., Ltd. (SZSE:002340) announced an update on its share repurchase program. As of June 30, 2025, the company has repurchased 20,358,500 shares, representing 0.40% of the company's total share capital. The repurchases were executed via centralized bidding through a dedicated securities account, with the highest transaction price at CNY 7.01 per share and the lowest at CNY 5.85 per share. The total transaction amount was CNY 136,743,597 excluding transaction costs, funded from the company's own funds and special loans for share repurchases. The repurchased shares will be used for equity incentives or employee stock ownership plans, and to reduce registered capital. The repurchase activities adhere to relevant laws and regulations and the company's established repurchase plan. GEM intends to continue implementing the repurchase plan within the repurchase period based on market conditions.