MeiG Smart raises share repurchase cap and increases transaction forecast

MeiG Smart Technology's board of directors approved an adjustment to the upper limit of its share repurchase price, raising it from RMB35.02/share to RMB78.42/share, effective October 16, 2025. This decision, aimed at facilitating the repurchase plan amidst market changes and a vote of confidence in the company's long-term value, follows an initial adjustment due to a 2024 cash dividend distribution. As of the announcement date, MeiG Smart had repurchased 568,500 shares for a total of RMB17,947,344.00.

Concurrently, the company increased its 2025 daily related-party transaction forecast with MeiLink by $2.5 million, raising the total expected transaction amount to $6 million (in addition to RMB36.05 million). This adjustment reflects the successful expansion of MeiG Smart's business in the Japanese market. Furthermore, the company's controlling shareholder, Mr. Wang Ping, has partially released pledged shares, totaling 710,000 shares across three separate transactions, thereby reducing his total pledged holdings to 12,850,000 shares. These transactions do not involve high-ranking executives' restricted shares or performance compensation obligations.