GEM updates share repurchase progress to end of October

GEM Co., Ltd. announced the latest progress of its share repurchase program, approved by the board on January 19, 2025, and shareholders on February 13, 2025. As of October 31, 2025, the company has cumulatively repurchased 20,358,500 shares through its dedicated securities account via centralized bidding. This represents 0.40% of the company's total share capital.

The repurchase was executed at a maximum price of RMB 7.01/share and a minimum price of RMB 5.85/share, totaling RMB 136,743,597 (excluding transaction fees). The funds originated from GEM’s own capital and dedicated stock repurchase loans. The original repurchase price cap of RMB 9.93/share was adjusted to RMB 9.86/share following the 2024 annual equity distribution.

The company's repurchase plan aims to use at least 50% of repurchased shares for capital reduction through cancellation, and up to 50% for equity incentives or employee stock ownership plans. The total repurchase amount is set between RMB 100 million and RMB 200 million. GEM confirmed its repurchase activities comply with relevant laws and regulations and will continue to implement the plan and fulfill disclosure obligations.