Lens Technology secures CNY 900m loan for buyback

Lens Technology (SZSE:300433) announced it has received a loan commitment letter from China CITIC Bank's Changsha branch, securing up to CNY 900 million in financing dedicated to supporting the company’s ongoing stock repurchase plan. The repurchase program, approved on April 7, 2025, aims to buy back shares for employee stock ownership or equity incentive plans. The buyback will be conducted using the company's own funds or self-raised funds. The total repurchase amount is planned to be between CNY 500 million and CNY 1 billion, with a repurchase price not exceeding CNY 34.60 per share (adjusted for the 2024 equity distribution). The loan carries an interest rate of 1.8% and each loan is for a maximum period of 3 years. The repurchase is planned to occur within 12 months of the board's approval.