GEM nearing 2025 share repurchase target

GEM has announced progress on its share repurchase program, which began after board approval on January 19, 2025, and shareholder approval on February 13, 2025. As of September 30, 2025, the company has cumulatively repurchased 20,358,500 shares, representing 0.40% of its total share capital. The repurchases were executed at prices ranging from RMB 5.85 to RMB 7.01 per share, totaling an aggregate transaction value of RMB 136,743,597 (excluding transaction fees).

The repurchased shares are intended for either equity incentive plans, employee stock ownership plans, or capital reduction through cancellation, with at least 50% designated for capital reduction. The maximum price for the repurchase was adjusted from RMB 9.93 to RMB 9.86 per share following the implementation of the 2024 annual equity distribution. The total capital allocated for the repurchase ranges from RMB 100 million to RMB 200 million.

The company's repurchase program is funded by its own capital and a dedicated share repurchase loan. GEM confirmed that its repurchase activities comply with relevant regulations regarding timing, volume, and pricing, including restrictions on trading during sensitive periods and specific market conditions. The company plans to continue actively implementing the repurchase plan within the designated period.