Huaming Power Equipment increases share repurchase program

Huaming Power Equipment has adjusted its share repurchase plan, increasing the maximum repurchase amount to CNY 25 million from the previous CNY 20 million, while keeping the minimum at CNY 15 million. The decision was approved by the company's board of directors at its seventh session. The repurchased shares will be used for employee stock ownership or equity incentives. As of July 4, 2025, the company had already repurchased 11,995,609 shares, representing 1.3385% of its total share capital, at a total cost of CNY 189,503,066.58 (excluding transaction fees). The maximum repurchase price remains at CNY 24.38 per share. The company stated that the adjustment reflects its confidence in future developments and is aimed at improving long-term incentive mechanisms and shareholder returns.