GEM share repurchase program nears completion

As of November 30, 2025, GEM has cumulatively repurchased 20,358,500 shares through concentrated bidding on a dedicated securities account. This represents 0.40% of the company's total share capital. The highest price paid for a share was CNY 7.01, and the lowest was CNY 5.85, resulting in a total transaction value of CNY 136,743,597 (excluding transaction fees). The funds for this repurchase originated from the company's own capital and a dedicated stock repurchase loan.

The repurchase program, approved by a shareholder meeting on February 13, 2025, allows for a total repurchase value of no less than CNY 100,000,000 and no more than CNY 200,000,000. The original maximum repurchase price of CNY 9.93 per share was adjusted to CNY 9.86 per share following the 2024 annual equity distribution. The repurchased shares are intended for equity incentives, employee stock ownership plans, or to be legally canceled to reduce registered capital, with at least 50% designated for capital reduction and up to 50% for incentives.

GEM's board confirmed that the timing, volume, and pricing of the share repurchases adhered to regulatory guidelines and the company's approved repurchase plan. The company intends to continue actively implementing the repurchase plan within the designated period, committing to timely information disclosure to investors.