Kingnet Network completes share repurchase program early

Kingnet Network announced the completion of its share repurchase program from September 1 to September 3, 2025. The company repurchased 8,952,800 shares, representing 0.42% of its total share capital. The total value of the repurchase amounted to CNY 199,963,337.44 (excluding transaction fees), with the highest price paid per share being CNY 23.73 and the lowest at CNY 21.38. This action aligns with the company's previously approved plan to repurchase shares using its own funds.

The repurchase was completed within the stipulated timeframe and price limits, with the total amount falling within the planned range of CNY 100 million to CNY 200 million. The repurchased shares are intended for future use in employee stock ownership plans and equity incentive programs, which is expected to boost investor confidence and employee motivation.

The company confirmed that the share repurchase did not significantly alter its financial position, operations, or ownership structure. All transactions adhered to regulatory guidelines.