Kingnet Network starts share buyback program up to 200m yuan

Kingnet Network initiated a share buyback program with a total value not exceeding 200,000,000 yuan and not less than 100,000,000 yuan. The program, approved on August 28, 2025, will acquire shares at a maximum price of 29.33 yuan per share over a period not exceeding twelve months. Shares repurchased will be allocated to employee incentive and shareholding plans.

The first buyback occurred on September 1, 2025, with the company repurchasing 4,567,300 shares, representing 0.21% of its total share capital. The transaction's highest price was 22.74 yuan per share, and the lowest was 21.38 yuan per share, totaling 99,602,130 yuan (excluding transaction fees).

Leading shareholders as of August 29, 2025, before the buyback announcement, included Jin Feng with 320,319,849 shares (14.99%) and Shaoxing Ancheng Enterprise Management Partnership (Limited Partnership) with 112,477,078 shares (5.26%). Hong Kong Securities Clearing Company Limited held 94,561,566 shares (4.43%), and Jin Danliang held 87,915,237 shares (4.12%). The company confirmed compliance with all relevant regulations regarding the timing, pricing, and funding of the buyback.