MeiG Smart Technology completes share buyback, reduces capital

MeiG Smart Technology Co., Ltd. announced the completion of its treasury share cancellation, with 844,400 repurchased shares retired. This action, finalized on November 20, 2025, represents 0.32% of the company's total share capital before the cancellation. As a result, the company’s total share capital decreased from 262,630,100 shares to 261,785,700 shares.

The buyback program, approved by shareholders on November 14, 2024, aimed to repurchase shares worth between RMB 30,000,000 and RMB 60,000,000, with a maximum price of RMB 35.15 per share. The company successfully completed the buyback, purchasing 844,400 shares at a total cost of RMB 30,494,562.00 (excluding transaction fees). The highest transaction price was RMB 45.68 per share, while the lowest was RMB 29.01 per share.

This share capital reduction resulted in a passive increase in the ownership percentages of major shareholders, including the controlling shareholder, Wang Ping, and Shanghai Zhaoge Enterprise Management Center (Limited Partnership), with their respective shareholding ratios increasing to 39.123%, 10.027%, and 49.149% in aggregate. The company confirmed that the cancellation will not materially impact its financial health, operations, or control structure, and its listed status remains unchanged.