Focuslight Technologies Inc commences an Equity Buyback for CNY 132 million worth of its shares, under the authorization granted on January 30, 2023.

Focuslight Technologies Inc (SHSE:688167) commences share repurchases on February 8, 2023, under the program mandated by the shareholders in the Extraordinary General Meeting held on January 30, 2023. As per the mandate, the company is authorized to repurchase its CNY 132 million worth of its common shares. The shares will be purchased at a price not exceeding CNY 120 per share.

The repurchased shares will be used for the implementation of ESOP or equity incentive plan and will be transferred within three years after the implementation result of the share repurchase and the announcement date of share changes. The program will be funded from excess funds obtained from the company's initial public offering. The program will be valid for 12 months from the date of the shareholder's meeting.