Topsec completes 2024 share buyback for employee incentive plan

Nanyang Topsec Technologies Group Co., Ltd. (Topsec) has announced the full disposition of shares repurchased under its 2024 buyback program. The company completed the repurchase of 11,232,400 shares by July 30, 2024, representing 0.9523% of its total share capital at that time. These shares were acquired via centralized bidding between February 5, 2024, and July 30, 2024, with transaction prices ranging from RMB 4.31 to RMB 7.56 per share, totaling RMB 59,998,840.00 (excluding transaction fees).

By November 12, 2025, all 11,232,400 repurchased shares were transferred to the company's employee stock ownership plan via non-transactional transfer. This concludes the 2024 buyback program, with the shares now allocated for the company's "Strivers" Second Phase Employee Stock Ownership Plan. The disposition aligns with the initial intentions outlined in the buyback proposal.

The "Strivers" Second Phase Employee Stock Ownership Plan ultimately received a total of 16,250,907 shares, including both the 2022 and 2024 buyback shares. The initial tranche of 15,450,907 shares, including 10,432,400 shares from the 2024 buyback, was transferred on September 12, 2025, with a reserved portion of 800,000 shares (all from the 2024 buyback) also transferred on November 12, 2025. Topsec confirms the execution of its 2024 buyback program adheres to approved resolution and relevant regulatory guidelines.